Market Overview For 25th October 2022

October 25, 2022 by Ayush Anjana · 2 min read


The broader Indian indices opened with a gap up on friday , Bank nifty was relatively stronger than nifty due to axis bank which went up 9% post the results announcement. Banknifty after the gap up rallied on friday getting some selling pressure around 41000 . On the muhurat trading day both the indices opened with a gap up where banknifty ended above 41300 and nifty above 17700

Nifty Chart

Daily Chart

  • Nifty trading within the broader range of 18100 as the resistance and 17400 as the support
  • Within the same we can expect consolidation 
  • Strength to follow once 18100 is taken out , which if is followed by small consolidation in the range provides good structure
  • Nifty trading within a upward parallel channel whose trendline resistance is around 17800 which will be an important level 

Nifty 45 Minute chart analysis

  • Nifty Opens with a gap up on diwali day 
  • Key levels to watch for intraday will be 17800 on the upside and 17520 on the downside 
  • Once 17800 is broken and sustained for more than 15 Minutes , higher chances that we can see some strength on the upside

Nifty 15 Minute chart

Banknifty Chart

Daily Chart

  • Banknifty relatively stronger than nifty since last week 
  • Approaching the All Time high resistance area of 41700-41800
  • banknifty with a positive broader trend trades within the range of 41700 and 39800
  • We can see good upside once 41700 is taken out on a daily close basis 

Banknifty 45 Minute chart analysis 

  • Banknifty breaks the 41000 level with a gap up on diwali day and sustains above 41300
  • Key levels to watch for are 41000 on the downside and 41650 on the upside which is ATH resistance 
  • Once bank nifty breaks 41650-41700 and sustains for more than 15 minutes , we can see good upside momentum 
  • Rangebound within 41000-41700


Banknifty 15 Minute chart