Market Overview For 2nd December 2022

December 1, 2022 by Ayush Anjana · 2 min read

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The Broader Indian Indices opened with a gap up post the GDP data and fed speech and started coming down from the initial start where banknifty made a high of 43520 and nifty 18900 , yesterday being an expiry was volatile as there was a sudden crack of 200 points in banknifty with ATM straddles pricing in around 100 rupees

Nifty Daily Chart

  • Nifty opens with a gap opening which gets filled and manages to close above previous day’s high
  • The momentum is still strong as we trade above 18600 (previous all time high)
  • Range visible for nifty is 18900-18600

Nifty 45 Minute chart analysis 

  • Nifty Opens with a gap up around 18900 and starts to come down , with the intraday structure being bearish yet happens to close above wednesday’s high
  • Key levels to watch for are 18750 on the downside and 18900 on the upside
  • The structure is strong and dips should be used to buy until 18600 is broken on the downside

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

Banknifty Daily Chart 

  • Banknifty opens with a gap up and fills it , closing around the previous range’s high of 43250
  • The trendline support has been respected everytime in bank nifty since 37565 levels 
  • Momentum to continue until banknifty breaks into the range of 43250-42600 again

banknifty 45 Minute chart analysis

  • After opening gap up around 43500 plus bank nifty starts to come down from the initial tick 
  • Consolidates within a very tight range nearly three hours before the crack of more than 200 points till 43100
  • Key levels to watch are 43100 (PDL) and 43500

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

LET’S WORK TOGETHER