NIFTY 50 (NIFTY) Down 2.57%, Crosses 20 Day Moving Average; in a Downtrend Over Past 90 Days

NIFTY 50 Daily Price Recap

NIFTY 50 entered today at 9142.75 in US dollars, down 2.57% ($240.8) from the day prior. 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. Let’s take a look at the daily price chart of NIFTY 50.

NIFTY 50 Technical Analysis

First things first: NIFTY 50 crossed below its 20 day moving average yesterday. 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up. If you’re looking to trade the primary trend, this may be a good opportunity to sell rallies created by the counter trend. For additional context, note that price has gone down 6 out of the past 10 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 megfennerr:

    @earthyhanna I’ve always been a Canon girl too 😍 I started with Canon and college gave us Nikon’s but I finally got to upgrade 2 (?) years ago and i’m so stoked. I used a nifty 50 for the longest time but when I could finally upgrade to the 24-70 OOUF 🤤

  • From Abhishekkar_:

    2 Facts
    -State Bank of India (SBIN) with a total of more than 6.6 Million contracts was among the top 10 stock fut contract traded in the world in 2016
    -Nifty 50 is the most actively traded index options contract in the world with more than 700 M contracts were traded in 2016

  • From sanjayd30690453:

    @ActusDei @PPFAS Sir, PPFAS is a great all in one fund in active investing. A index investor can create similar combination with nifty 50 + nasdaq 100 in 70:30 propotion at just 0.25 bps. Have you checked perfomance of this combination for a index investor? It will be intresting 😀