Market Overview For 8th March 2023

March 8, 2023 by Ayush Anjana · 2 min read


The broader Market Indices opened with a gap up , initially there was some strength but both nifty and banknifty faced rejection at higher levels and fell closing around the day’s open

Nifty Daily Chart 

  • Nifty opens with a gap up , tests 17800 and gets rejected
  • Currently range visible for nifty is 17350-17900
  • With the broader structure being weak , we can expect some strength only once we close above 17850-17900 resistance levels

Nifty 45 Minute chart analysis 

  • Nifty opened with a gap and got rejected from 17800 resistance level and fell closing just above day’s open
  • Key levels to watch are 17800 on the upside and 17600 on the downside
  • Expect more strength only if 17800 is taken out and sustained for 15 Minute plus

Nifty 15 Minute chart

Banknifty Daily Chart 

  • Banknifty opened with a gap and got rejected from the 41700-41750 supply zone
  • Currently banknifty looks range bound between 41000-41750
  • The broader structure remains sell on rise until we close above 41750 levels

Banknifty 45 Minute chart analysis 

  • Banknifty opened with a gap up , headed higher till 41675 and got rejected falling till 41270 and finally closed around 41350
  • Key levels to watch are 41150 on the downside and 41700 on the upside 

Banknifty 15 Minute chart