Market Overview For 6th December 2022

December 5, 2022 by Ayush Anjana · 2 min read

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The broader Market opened with a gap up and started sliding down from the  initial tick where nifty retested 18600 and banknifty tested 43000 levels and bounced closing around 18700 for nifty and 43330 for bank nifty

Nifty Daily Chart 

  • Nifty opens with a slight gap up and slides down towards 18600 and bounced
  • Nifty to hold momentum until 18600 is not broken on daily time frame
  • Higher chances of uptrend followed by the retest of 18600

Nifty 45 Minute chart analysis 

  • Nifty post opening slides down towards 18600 and consolidates within the first 45 Minute range
  • Key levels to watch will be 18600 on the downside and 18800 on the upside (gap area)
  • Nifty to hold momentum until 18600 is intact , weakness only if 18600 is broken and sustained for more than 15 Minutes

Nifty 15 Minute chart https://www.tradingview.com/x/Sy3QYS4V/

Banknifty Daily Chart 

  • Bank nifty again retests 43000 and bounces up
  • Range visible is 42850 and 43600 on the upside
  • Higher chances of an upside breakout and momentum to continue once 43600 is broken on daily close

Bank nifty 45 Minute chart analysis 

  • Banknifty opens with a gap up and slides down towards 43000 and bounces
  • Closing at day’s high around 43300 plus , higher chances of a gap up tomorrow 
  • Key levels to watch are 43000 and 43500 on the upside

Banknifty 15 Minute chart https://www.tradingview.com/x/0blhBi3w/

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