Market Overview For 29th December 2022

December 29, 2022 by Ayush Anjana · 2 min read


The broader Market Indices opened with a slight gap down on wednesday  and started heading high where both the index consolidated but the volatility was on a high end with random spikes especially bank nifty. Thursday being a monthly and yearly expiry we can see some volatility in the last hour

Nifty Daily Chart

  • Nifty Managed to close above  18100
  • With 18200 being an strong resistance , it is better to have a bearish to sideway opinion from a risk to reward perspective
  • Nifty Range visible is 18000-18200

Nifty 45 Minute Chart Analysis:-

  • Nifty opened with a small gap down , started heading higher yet getting rejected around 18170-18200 area it fell and closed around day’s low
  • If we observe nifty on smaller time frame chart it has given a trendline breakdown
  • Key levels to watch are 18200 on the upside and 18000 on the downside

Nifty 15 Minute chart

Banknifty Daily Chart

  • Banknifty tests 43000 and gets rejected closing around 42800 levels
  • Banknifty structure looking bearish rangebound between 43000 and 41500
  • Strength only once we close above 43000

Banknifty 45 Minute chart analysis 

  • Banknifty opens with a slight gap down and starts heading higher till 43000 where it gets rejected making lower lows and highs closed around day’s low
  • banknifty broke the trendline support on smaller time frame thus we have high chances of a gap down
  • Key levels to watch are 42600 and 43000

Banknifty 15 Minute chart