Market Overview For 30th September 2022

September 30, 2022 by Ayush Anjana · 2 min read

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The Indian broader Indices opened gap up around previous day’s high and getting rejected faced some selling pressure bouncing back in the second half from previous day’s low. Broadly both the Indices respected previous day’s range for the monthly expiry.

Nifty Futures

Daily Chart

  • Nifty Futures for nearly last week has not been crossing the previous day’s high , making lower low and lower high
  • Yesterday nifty futures opened with a gap up getting rejected from previous day’s high faced selling pressure
  • The price structure is bearish ,yet for the sake of a pullback before the trend continues to visit the 16500-16600 zone which will be the important to watch for the bulls

Nifty Futures 45 Minute chart analysis 

  • Opening with a gap up nifty futures could not sustain above the 17050 level which we discussed yesterday 
  • Got rejected and fell towards the previous day’s low , the structure looks bearish 
  • In case of a gap down key levels to watch would be 16800-16500 (previous breakout zone)
  • In case of a flat opening the previous day’s range will be the key to watch.

Nifty Futures 15 Minute chart https://www.tradingview.com/x/h2yNg9Le/

Banknifty Futures 

Daily Chart

  • banknifty could not sustain the gap up getting rejected from 38400 levels 
  • The breakdown has seen good followup ,  expect some support from the 37400 zone 
  • Key support level to watch is 37400

Banknifty Futures 45 Minute chart analysis 

  • Banknifty Futures opened gap up  , made a high around 38400 got rejected from previous day’s high and fell
  • The 38400 resistance level is going to be important until below that it will be sell on rise
  • Key levels to watch are 38400-37600 
  • Sustaining below 37600 for more than 20 minutes will open the chances of banknifty Futures visiting the 37400 levels

Banknifty Futures 15 Minute chart https://www.tradingview.com/x/en99VrY9/

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