NIFTY 50 (NIFTY) Down 0.13%; is Inching Close to 20 Day Average

NIFTY 50 Daily Price Recap

9239.2 was the closing price of the day for NIFTY 50, resulting in today being one in which price moved down 0.13% ($12.3) from the previous day. Out of the 8 instruments in the 8 major global equity indices asset class, NIFTY 50 ended up ranking 5th for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of NIFTY 50.

NIFTY 50 Technical Analysis

Volatility for NIFTY 50 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to sell rallies. For additional context, note that price has gone up 6 out of the past 10 days.

Overheard on Twitter

Behold! Here are the top tweets related to NIFTY 50:

  • From thebrandindex:

    People that doubt tracking brand relevancy should look at $UA $KSS $PVH etc vs the most relevant brands. The work me and my team does each December is so valuable. It’s akin to having a nifty 50 (200 in my case) but updating that list yearly so u get access to emerging brands too

  • From FinsenseG:

    The Recent price action on Nifty 50 indicates bulls are failing to sustain at high levels and we are witnessing the demand drying up. On the high side Nifty needs to break the barrier of 9500 decisively to regain the upward momentum.

  • From JCOviedo6:

    @bbb_num @PhenomenalPoto @business @Reuters @CNBC Sadly, $PM gave an entire presentation earlier this year about how they are an ESG company helping out the farmers and switching smokers to vaping and what not.ESG is the dumbest investment fad since the Nifty 50