Market Overview For 29th November 2022

November 29, 2022 by Ayush Anjana · 2 min read


The Broader Indian market Indices opened with a gap down but from the initial tick started going up where banknifty went above 43000 and nifty went above 18600 where both the indices faced some rejection and corrected in the end closing around 43000 for bank nifty and 18560 for nifty

Nifty Daily chart

  • Nifty crosses 18600 but could not give a closing above 18600
  • Momentum to come if 18600 is broken on a daily basis and new all time high is made
  • Nifty’s broader trend is positive with crucial support around 18150

Nifty 45 Minute chart analysis 

  • Nifty opens with a gap down and heads high to new all time high which was not sustained 
  • Key levels to looks for intraday will be 18365 (PDL) and 18600 (all time high )
  • We can see momentum if 18600 is broken and sustained for more than 15 minutes

Nifty 15 Minute chart

Banknifty Daily Chart 

  • Banknifty closes above 43000 
  • Still trading within the upside parallel channel , the trendline support will be important 
  • Looking rangebound between 43300 and 42600 with broader trend being positive 

Banknifty 45 Minute chart analysis 

  • Bank nifty after opening with a gap down started going up from the initial tick and crossed 43000 
  • Key levels to watch for are 42800 on the downside and 43170 on the upside
  • We can see momentum once 43170 is broken and sustained for more than 15 minutes

Banknifty 15 Minute chart