Market Overview For 25th January 2023

January 25, 2023 by Ayush Anjana · 2 min read

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The broader Market Indices opened with a gap up where initially both indices tried going up but were rejected from 43000 levels and 18200 levels. Post which there was one way down move till 42670 and 18100

Nifty Daily chart 

  • Nifty opens around 18200 and get rejected from the previous resistance 
  • Within the broader range of 18250-17800 , nifty again forming small inside bar
  • We can see strength once 18250 is taken out as on small time frame it has been tested multiple times

Nifty 45 Minute chart analysis 

  • Nifty opens with a gap up , initially tried going higher but was rejected from 18200 levels and it fell closing around 18100
  • Key levels to watch will be 18200 and 18000
  • Once 18000 is broken , given last two day’s activeness of seller we can some weakness

Nifty 15 Minute chart https://www.tradingview.com/x/JD42NaHo/

Banknifty Daily Chart 

  • Bank nifty after giving the breakout of 42700 with a gap has not witnessed a follow through action
  • On intraday front also , gap up are getting sold into closing at day’s low
  • bank nifty if again enters into the range of 42700-41800 will be weak sign 

Banknifty 45 Minute chart analysis 

  • Banknifty opened with a gap up , initially traded above 43000 but again failed for follow through move and fell
  • banknifty on smaller time frame of 15 minute has given a range breakout of monday’s low which was 42750
  • Key levels to watch are 42800 on the upside and 42500 on the downside

Banknifty 15 Minute chart https://www.tradingview.com/x/lCw0JdTC/

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