Market Overview For 25th November 2022

November 24, 2022 by Ayush Anjana · 2 min read

The Broader market indices opened with a slight gap up and headed higher in the initial half hour breaking yesterday’s high consolidated in the middle giving an upside breakout post 3pm with strong momentum in nifty as well as banknifty 

Nifty daily chart 

• Nifty breaks the 18450 resistance with strong momentum
• Highly likely we can see some strength in the coming session and forming a new all time high
• Crucial support level around  18135-18150

Nifty 45 Minute chart analysis 

• Nifty breaks out of the 18450 range and closes around 18500
• Highly likely we can have a gap up on friday 
• Key levels to watch for will be 18400 on the downside and 18600 (all time high level)

Nifty 15 Minute chart https://www.tradingview.com/x/wbC4HL5E/

Banknifty Daily chart 

• Banknifty gives a breakout from the compressed range and closes above 43000
• Momentum to continue until bank nifty closes below the 41600 resistance turned support
• Broader trend is strongly positive with crucial support at 42200

Banknifty 45 Minute chart analysis 

• Banknifty opens with a gap up and heads higher in the initial 30 Minutes and consolidated in the middle giving a breakout post 3pm with strong momentum
• With the momentum witnessed in the end higher chances of a gap up opening and uptrend to continue 
• Key levels to watch will be 43000 on the downside above which we can see the momentum continue

Banknifty 15 Minute chart https://www.tradingview.com/x/ZJt5Aevl/