Market Overview For 28th November 2022

November 28, 2022 by Ayush Anjana · 2 min read

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The Broader Indian Indices opened with a slight gap up and headed higher in the initial half hour where banknifty was up 0.5% and nifty was slightly positive post which banknifty faced some selling pressure around 43350 and started going down breaking the day’s open closing below 43000

Nifty Daily Chart

  • Nifty sustains above 18500 levels 
  • Nifty to have momentum until the breakout of 18450 is not broken on the downside
  • Resistance visible around all time high levels of 18600
  • Broader trend is positive with crucial support area around 18150

Nifty 45 Minute chart analysis 

  • Nifty traded within a small range on friday as compared to banknifty which had some volatility
  • Key levels to watch for intraday are 18420 and 18600 (all time high resistance)
  • Bullish momentum to get void once nifty breaks below 18420

Nifty 15 Minute chart https://www.tradingview.com/x/0OaGIHuo/

Banknifty Daily Chart 

  • Banknifty closes just below 43000
  • Whether this is a breakout retest or a breakout failure can be concluded on how it reacts near 42870-42900
  • Broader trend is positive with crucial support around 42200

Banknifty 45 Minute chart analysis 

  • Banknifty post opens heads higher with momentum but gets rejected and breaks the day’s open and closes below 43000
  • Key levels to watch for are 42870 on the downside and 43300 on the upside
  • Momentum is strong until 42870 is intact 

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

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