Market Overview For 2nd January 2023

January 2, 2023 by Ayush Anjana · 1 min read


The broader Market Indices opened with a gap up and started sliding down where nifty closed around 18100 and banknifty below 43000. Thursday’s low will be important for both the indices

Nifty Daily Chart

  • Nifty struggles again to break the 18200 resistance levels
  • Currently nifty’s structure looks rangebound between 18000 and 18450
  • Weakness to continue if 18000 is broken on a daily close basis

Nifty 45 Minute chart analysis 

  • Nifty opens with a gap up , making open equals high of the day slided down closing around 18100
  • Thursday we saw a one way momentum after the bounce from 18000 which will be an important level to watch 
  • Key levels to watch are 18000 and 18265

Nifty 15 Minute chart analysis

Banknifty Daily Chart

  • Banknifty opening above 43400 closed below 43000
  • banknifty looks rangebound between 42700-43500
  • Weakness once thursday’s low of 42500 is taken out

Banknifty 45 Minute chart analysis 

  • Banknifty opened with a slight gap up , making open equals to high of the day slides down where it consolidated between 43150-43000 before closing below 43000
  • Key levels to watch will be 42800 and 43400

Banknifty 15 Minute chart analysis