Market Overview For 27th September 2022

September 27, 2022 by Ayush Anjana · 2 min read


The Indian Broader Indices opened gap down and gave a follow up down move with taking support at the lower levels , both the indices bounced towards the day’s high and around that level got rejected closing around the day’s low. Majority of the sectoral Indices were down yesterday except Nifty-IT 

Nifty Futures 

Daily Chart

  • Nifty futures gave a breakdown from the parallel channel and yesterday we saw 17250 been broken a gap down
  • We can expect a negative pullback towards 17250-17300 and how it responds to that level would be decisive for the next move
  • Closing below 17000 would open chances of revisiting 16500-16600 the previous breakout levels

Nifty Futures 45 Minute chart analysis 

  • Nifty Futures opened below 17250 with a gap down and gave a follow up move towards 16980 and bounced back towards the day’s high
  • Getting rejected around the day’s high , nifty Futures closed around the day’s low 
  • With a good trendy move in the last few days , we can expect some consolidation with key levels to watch are 17000-17250

Nifty Futures 15 Minute chart

Banknifty Futures 

Daily Chart 

  • Banknifty Futures daily chart re-enters the previous range of consolidation between 39900 on the upside and 38000
  • Post giving a breakdown from the parallel channel structure and breaking of 40400 , bank nifty nearly corrected 2000 points in 2 days
  • Based on previous range and the follow up move , we can see a bit of consolidation 
  • Short term structure is weak until below 39900 and the same level retest on the upside whether it breaks or gets rejected will be the key based on larger time frame

Banknifty Futures 45 Minute chart analysis

  • banknifty Futures opened below 39300 did a retest of that level and corrected to the low of 38500
  • Key levels to look for are 39300 and 38500 
  • Within which banknifty futures can be rangebound

Banknifty Futures 15 Minute chart