Market Overview For 30th January 2023

January 30, 2023 by Ayush Anjana · 2 min read


The broader market Indices opened with a gap down where banknifty fell more than 3% and nifty more than 1.5% , both the indices have given a breakdown from the important level which was tested multiple times

Nifty Daily Chart

  • Nifty breaks 17800 and closed around 17600
  • The broader range 17800-18250 which was been respected for a good amount of time has been taken out with strong momentum
  • The structure remains sell on rise with 17850 as major resistance level

Nifty 45 Minute chart 

  • Nifty opens within previous day’s low and once that low was broken , there was a sharp selling 
  • Higher probability of an rise getting sold 
  • Key levels to watch on the upside is 17750 and 17500 on the downside

Nifty 15 Minute chart

Banknifty Daily Chart

  • Banknifty breaks the 41500 level with a gap down and closed around 40350
  • The structure looks bearish , with 41500 now an important resistance level
  • Key level to watch in the downside will be 39700 

Banknifty 45 Minute chart

  • Banknifty opened with a gap down below 41500 and gave a follow through sell off closing around 40350
  • The structure looks quite weak with previous two day’s pattern of major selloff in the first 15 minute
  • Key level to watch are 41000 and 40000

Banknifty 15 Minute chart