Market Overview For 6th October 2022

October 6, 2022 by Ayush Anjana · 2 min read


The Indian Broader indices opened with a gap up on Tuesday and saw a followup move with nifty futures closing around 17300 and banknifty futures closing around 39290. The strength was all around the sectoral indices all of them closed in green

Nifty Futures

Daily Chart

  • Nifty Futures after consolidating in the range between 16770-17220 ended with an upside breakout 
  • Nifty looks good until above 17200 but there will be overhead resistance pressure around key levels
  • Highly likely if the breakout sustain we can see 17600-17800

Nifty Futures 45 Minute chart

  • After opening with a gap up on tuesday , nifty gave a followup move 
  • Nifty futures gave a breakout after a good consolidation on smaller time frame
  • Strength until above 17220 
  • Key levels to watch are 17200-17500 for this expiry

Nifty Futures 15 Minute chart

Banknifty Futures 

Daily Chart

  • Banknifty approaching the 39500 resistance 
  • Looks rangebound between 39500 and 37600
  • Upmove to follow only if 39500 is taken out as there is a gap which can be filled

Banknifty Futures 45 Minute chart

  • banknifty opened gap up and there was a followup move for the initial 30 minutes post which it ended up consolidating
  • Key level to watch for are 39500 and 39000
  • We can see a trendy move if 39500 is broken and sustained for more than 15 minutes

Banknifty Futures 15 Minute chart