Market Overview For 28th October 2022

October 28, 2022 by Ayush Anjana · 2 min read


The Indian broader Indices opened with a gap up on thursday , slided down with consolidation until 3pm , after which there was a sharp up move visible in nifty taking it from17655 to 17750. Among the strongest sector was CNX-Metals , Energy and realty , Nifty-IT was the weakest

Nifty Daily chart

  • Nifty opens with a gap up around 17800 and slides down , getting rejected from the 17800 zone thrice
  • Upside momentum to follow only if 17800 is taken out on a closing basis
  • Within 17800-17435 , nifty looks rangebound

Nifty 45 Minute chart analysis 

  • Nifty Opens with a gap up , slides down with consolidation followed by a sharp up move post 3pm
  • Key levels to watch on the upside is 17800 and 17650 on the downside which is previous day’s low
  • We can see a trendy move if 17650-17800 is broken either side and sustained for more than 15 Minutes

Nifty 15 Minute chart

Banknifty Daily Chart

  • Banknifty trading within inside bar formation between 41000-41600
  • We can see good upside once 41600-41700 (all time high resistance is broken on a closing basis)
  • Inside bar range low of 41000 to act as a support

Banknifty 45 Minute chart analysis

  • Banknifty opens with a gap up and faces rejection around 41500 levels 
  • banknifty consolidated within 41500-41100
  • Once 41500 is broken and sustained for more than 15 Minute , we can see momentum on the upside to test the all time high levels

Banknifty 15 Minute chart