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 https://www.tradingview.com/x/FFPkF1kU/
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 https://www.tradingview.com/x/Pkirq8r6/