Market Overview For 25th August 2020
August 25, 2022 by Ayush Anjana · 2 min read
The broader indices stayed rangebound with quite a volatility and ended up shooting up in the last 30 minutes especially banknifty , taking out the 38900-39000 resistance level which concludes bullishness. Smallcap and midcap indices were stronger than the broader indices.
Nifty futures
Daily chart
- Nifty futures forming a inside bar formation on daily charts
- A close above 17800 will help the index head towards the 18000 resistance
- Until 17340-17370 is intact , the last two days correction can be a pullback considering the broader positive trend
- Observing from a price structure point also , since last two days the index is opening gap down and closing around day’s high indicating the buyers activity
Nifty Futures 45 minute chart analysis
- Yesterday the stayed rangebound between 17500 and 17635
- Gap up opening above 17650 and sustaining their for more than 20 min , the index can approach 17800
- Expecting an expiry in the range of 17500-17850 with a bullish bias
- In intraday the index can correct only if 17500 is taken out for more than 20 minutes
Nifty Futures 15 minute chart https://www.tradingview.com/x/juVgsM8V/
Banknifty Futures
Daily chart
- Yesterday bank nifty opened flat around 38500 which was previous intraday breakout level respected and went up
- The index on a daily time frame looks rangebound between 38200-39700 with bullish bias based on smaller time frames
- Expecting expiry between 38900-39600
Banknifty Futures 45 Minute chart analysis
- Yesterday the index ended up taking out the 38900 resistance which can be a support for today’s expiry
- Considering the last hour’s momentum , highly likely we may gap up.
- Key decision level to watch are 38900 and 39200
- If the index sustains above 39200 for more than 20 minutes , range for today’s expiry will be 39000-39700
Banknifty futures 15 minute chart https://www.tradingview.com/x/2aCkYCBt/