Nifty Weekly Analysis before RBI event

Last week we gave  Nifty Chopad level of 8500 Nifty did 1 target on downside, 2 target on upside and 1 time triggered SL on long.Nifty  continued with its upward journey and make new life highs. Next week we have RBI credit policy on 2 Dec, which is keenly watched to see if Governor relents to give the much expected rate cut or will he give it a pass this time also. Market is factoring in 25BPS, any surprises can see violent moves coming.Lets see how to trade next week.

 Nifty Hourly Chart

Nifty Hourly charts has meet its trendline resistance @..

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