NIFTY 50 Daily Price Recap
NIFTY 50 closed the day prior down 0.06% ($5.9); this denotes the 2nd day in a row a decrease has occurred. Out of the 8 instruments in the 8 major global equity indices asset class, NIFTY 50 ended up ranking 7th for the day in terms of price change relative to the day prior. Below is a daily price chart of NIFTY 50.
NIFTY 50 Technical Analysis
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. This may setup an interesting opportunity for traders looking to sell rallies in anticipation of the primary trend resuming. For another vantage point, consider that NIFTY 50’s price has gone up 7 of the previous 14 trading days.
Overheard on Twitter
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to NIFTY 50 for the past day were:
- From SnapLaugh:
@shobhitsahu @dmuthuk About 50 to 60% portfolio in blue chips,remaining in index funds,uti nifty 50,icici pru nifty next 50,hdfc sensex fund,ppfas when nifty pe starts going below 20.Index funds give 8 to 10% returns if you have patience.Keep duration long and you will achieve financial freedom.
- From krupesh_B_Patel:
@MyFnO Nifty 50 and bank nifty ( index) chart available with volume on 5 min timeframe ?Does nifty volume is calculated based on scipt weitage in index ?Because for index, volume data are more reliable when it is calculated based on scipt weitage in index.
- From PythiaR:
@GWInvestors This is interesting only if you don’t think about what is driving these themes. The Nifty 50 was valuation expansion. Gold was valuation expansion. Tech was valuation expansion, oil was commodity price expansion. FAANG is not.