Market Overview For 30th December 2022
December 29, 2022 by Ayush Anjana · 2 min read

The broader Market Indices opened with a gap down and started heading lower where banknifty tested 42500 and nifty till 18000 , taking support both the indices bounced. Once 42800 was broken there was a sharp short covering rally which took bank nifty till 43300
Nifty Daily Chart
- Nifty bounced sharply from 18000 given a strong close above 18150
- Nifty has given an inside bar breakout from last two day’s doji formation
- Nifty looks strong with 18000 as a crucial support area
Nifty 45 Minute Chart Analysis:-
- Nifty opened with a gap down , tested 18000 level from where it got rejected and bounced closing above 18150
- With the momentum in the end of the session , higher chances of a gap up opening
- Key levels to watch are 18000 on the downside and 18450 on the upside
Nifty 15 Minute chart https://www.tradingview.com/x/Dq0qhtXK/
Banknifty Daily Chart
- Banknifty observed a sharp short covering rally once 42800 was broken
- We can expect some momentum in banknifty until we trade above 43000
Banknifty 45 Minute chart analysis
- Banknifty opened with a gap down , headed lower testing 42500 bounced back and once 42800 was broken there was a sharp short covering rally
- 43000 was tested multiple times and today broken with a strong close
- We will test 44000 sooner than 42800
- Key levels to watch are 43000 on the downside and 43600 on the upside
Banknifty 15 Minute chart https://www.tradingview.com/x/UVravZ5s/