Nifty Weekly Technical Analysis for Week 17-21 October

Nifty Hourly Chart

Nifty Hourly chart is having 2  gap which are not filled in the current up trend which is 7 days old.

1. Gap 1 from 4827-4861

2. Gap 2 from 4967-4998

Hourly charts are having negative divergence but the daily and weekly charts have moved in uptrend and negating the Hourly time frame. Hourly dips are getting bought as on Friday also when 4957 Low was bought and market moved higher in afternoon session.

5141,5169  will be a important levels to watch as it has been elusive level in previous 2 Uptrend.

Nifty Daily Chart

Read the Full Story

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Rgds,
Bramesh
09985711341

http://www.brameshtechanalysis.com/

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