Market Overview For 30th December 2022

December 29, 2022 by Ayush Anjana · 2 min read

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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/

LET’S WORK TOGETHER