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

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