NIFTY 50 (NIFTY) Up 0.01%

The Hourly View for NIFTY

Last Updated June 3, 2021, 03:018 GMT

At the time of this writing, NIFTY 50’s price is up 60.8 (0.39%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NIFTY 50. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

NIFTY 50 Daily Price Recap

NIFTY 50 entered today at 15576.2, up 0.01% ($1.35) from the previous day. Relative to other instruments in the equity indices asset class, NIFTY 50 ranked 11th since the previous day in terms of percentage price change. Below is a daily price chart of NIFTY 50.


NIFTY 50 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 10 days NIFTY 50’s price has gone up 8 them.