The Hourly View for NIFTY
Last Updated June 10, 2021, 18:18 GMT
At the time of this writing, NIFTY 50’s price is up 45.3 (0.29%) from the hour prior. This is the 2nd consecutive hour NIFTY 50 has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. 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 is down 0.67% (104.75) since yesterday, marking the 2nd consecutive day it has gone down. Relative to other instruments in the equity indices asset class, NIFTY 50 ranked 13th since yesterday in terms of percentage price change. Here 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 14 days NIFTY 50’s price has gone up 10 them.