Market Overview For 27th January 2023
January 27, 2023 by Ayush Anjana · 2 min read

The Broader Market Indices Opened with a gap down and as soon as the previous day’s low was broken in banknifty it cracked for more than 1000 closing around 41650 , nifty corrected relatively less , closing above 17800
Nifty Daily Chart
- Nifty gives an inside bar breakdown within the big range
- We can witness some more weakness once 17800 is taken out
- Strength to follow only once 18250 is taken out , the structure looks like sell on rise until then
Nifty 45 Minute chart analysis
- Nifty opened around the previous day’s low and once it was taken out , nifty cracked one way till 17850 where it consolidated
- Key levels to watch will be 18000 on the upside and 17800 on the downside
- Within the big range of 17800-18250 , the structure looks like sell on rise
Nifty 15 Minute chart https://www.tradingview.com/x/5LnsK52r/
Banknifty Daily Chart
- Banknifty closes below the 41800 mark with a sharp selling candle
- One single candle covers the full range of 42700-41800
- The structure remains sell on rise until 43000 is not taken out
Banknifty 45 Minute chart analysis
- Banknifty opened with a slight gap down , once previous day low was broken with the first 15 minute candle , there was one way down move of more than 1000 points
- Key levels to watch are 42000 on the upside and 41600 on the downside
- We can witness an inside bar candle on friday
Banknifty 15 Minute chart https://www.tradingview.com/x/4EKYPhb5/