Nifty Weekly Technical Analysis for Week Beginning 9 July

Nifty Hourly Chart

Nifty Hourly Charts has been in consolidation mode for the whole week and keeping its head above the scared levels of 5285, Nifty twice made a low of 5288 and 5289 but unable to break below 5285 shows bulls are active till 50 Hourly SMA is not broken. Breakdown will come below 5260 which is hourly trendline.

Nifty Gaps

Nifty has the only 1 gap remaining above 5000 which is 5150-5189. Break of 5217 will only provide opportunity to fill the gap.

Nifty Daily Chart

On Daily charts nifty is facing resistance at 5333 and facing support at rising trendline at....

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