Market Overview For 23rd September 2022

September 23, 2022 by Ayush Anjana · 2 min read


The Indian Broader Indices opened more than half percent gap down post the Fed event. Banknifty after opening went up till 41200 and got rejected breaking the day’s low and heading towards 40450 and bounced back sharply towards 40980. Nifty on the other hand was relatively stronger than banknifty 

Nifty Futures 

Daily Chart

  • Nifty trading within the range of 17465 and 18000 with lot of volatility 
  • Trendy move to follow once the range is broken 
  • Below 17465 close , nifty futures can head to 17250 which is a crucial support level

Nifty Futures 45 Minute chart analysis

  • Nifty futures opened with a gap down and headed lower yet again it respected the 17500 support level and bounced back to the day’s high
  • Key levels to watch are 17500 on the downside and 17800 on the upside
  • Within this range we can see consolidation , breaking this range and sustaining for more than 20 minutes can see trendy move

Nifty Futures 15 Minute chart

Banknifty Futures

Daily Chart

  • Banknifty Futures trading within an inside bar formation near to the all time high levels
  • The range being 40300 on the downside and 41700 on the upside
  • Good trendy move can be seen if this range is broken on a daily close basis 

Banknifty Futures 45 Minute chart analysis 

  • Banknifty opened lower with a gap down headed higher and got rejected from the 41200 resistance which was previously a support
  • It broke day’s low post the rejection and headed lower to 40400 levels and bounced back 
  • Key levels to watch are 41200 and 40400 within which it can be consolidation
  • Trendy move to follow if 40400 is broken and sustained for more than 20 minutes

Banknifty Futures 15 Minute Chart