Nifty Weekly Analysis for 04 Nov with key trading levels -I

Next week promises to be action packed week as 5 heavy weight SBI, ONGC, Tata Steel and Coal India comes up with their results.US also goes down for election on Tuesday. Mahurat trading is only 6 trading session away and as seen from past Historical data Nifty tends to give 5-6% move pre or post Mahurat trading session. So accept a 5-6% move in coming week or after 14 November.

 Nifty Hourly Chart

Nifty Hourly charts have seen a range expansion on downside with nifty range extending till 5583. Till 5580 is not broken we can see an expansion in upside range after 5725 is taken off.

Nifty Gaps...

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