Nifty daily analysis for 08/11/23.

Nifty has been forming gaps as there are gap up for last 2-3 trading sessions and is trading above both the daily moving averages.

On the hourly charts, the market seems to be consolidating in a range for last 2 days.

A break out can give a nice rally and nifty has more chances than the expiry index tomorrow.

Support :- 19330, 19270
Resistance ;- 19430, 19510

Wait for the market to give a break out or break down and watch for the price action near the level before entering the market.