Market Overview For 26th December 2022

December 25, 2022 by Ayush Anjana · 1 min read

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The Broader Market Opened with a gap down where bank nifty opened around 41900 and 18000 and slided down till 41668 and 17800

Nifty Daily Chart

  • Nifty Closes below 18000
  • Nifty breaks the trendline support from 15200
  • Nifty looks weak until below 18000 , higher chances of 17450

Nifty 45 Minutes chart analysis 

  • Nifty opens with a gap down and slides down sustaining below 18000 closing around 17800
  • Nifty structure looks weak as there has been no candle which closed above the previous candle’s high
  • Key levels to watch are 17960 and 17560 (0.618 Fib level of last swing)

Nifty 15 Minute chart https://www.tradingview.com/x/DxSREyG1/

Banknifty Daily Chart

  • banknifty closes below the support of 41900 
  • The structure looks weak until we trade below 42200
  • banknifty currently trade around a long term trendline support from 32300 level

Banknifty 45 minute chart analysis 

  • Banknifty opens with a gap down below 42000 , initially tried sustaining above 42000 but failed
  • Once it broke 41900 , there was a one way down till 41680-41700
  • Key levels to watch will be 42200 on the upside and 41300 on the downside

Banknifty 15 Minute chart https://www.tradingview.com/x/2ydekLEo/

LET’S WORK TOGETHER