Market Overview For 5th September 2022

September 5, 2022 by Ayush Anjana · 2 min read


The indian broader indices opened nearly flat on friday , sliding down in the first hour and near to the previous day’s low taking support bounced to the day’s high where it got rejected and corrected in the last hour. 

Nifty Futures

Daily chart

  • Nifty futures on  friday ended within the inside bar formation 
  • The range remains same with 17430-17845 which ever side it breaks on a closing basis can witness trendy move
  • On daily time frame there is one overhead resistance at 18000 which will highly likely be taken out if the inside bar gives a bullish breakout

Nifty Futures 45 minute chart analysis 

  • The index opened around 17600 levels correcting to 17491 from where it bounced
  • Key decision levels to watch for intraday are 17480 on the downside and 17665
  • Opening above 17665 in case of a gap up , the key level to watch is 17845 which is the resistance of inside bar on the daily chart
  • Downside movement to continue only if previous days low is broken and sustain for more than 20 minutes

Nifty Futures 15 minute chart

Banknifty Futures

Daily Chart 

  • banknifty futures are trading in a consolidation range between 38000 and 39800 which as per the structure inside the range looks like higher changes of 39800 being broken
  • Broader trend is bullish with swing low at 38000 
  • Good up move can come if 39800 is taken out on upside 

Banknifty Futures 45 Minutes chart analysis

  • The index looks rangebound until between 38900 and 39800 as per smaller time frames
  • Key level to look for intraday are 39200 and 39800 as if any of this is broken and sustained trendy move can come
  • Personal bias is that highly likely a up move post the breakout from 39800 resistance level which is tested multiple times so it looks weak

Banknifty Futures 15 minute chart