NIFTY 50 (NIFTY) Up $43.45 On 4 Hour Chart, Came Into Today Down For the 2nd Straight Day; Pin Bar Pattern Appearing on Chart

NIFTY 50 4 Hour Price Update

Updated September 07, 2020 11:12 PM GMT (07:12 PM EST)

NIFTY 50 closed the last 4 hour candle up 0.38% (43.45); this denotes the 2nd straight candle an upward move has occurred. NIFTY 50 outperformed all 8 assets in the 8 major global equity indices asset class since the last 4 hour candle. Congrats to its holders!

NIFTY 50 Daily Price Recap

NIFTY 50 came into today down 1.68% (193.6) from the open of the previous day, marking the 2nd straight day a decline has happened. Those trading within the 8 major global equity indices asset class should know that NIFTY 50 was the worst performer in the class today. Below is a daily price chart of NIFTY 50.

NIFTY

NIFTY 50 Technical Analysis

First things first: NIFTY 50 crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that NIFTY 50’s price has gone up 7 of the previous 10 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

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

  • From IndiaEtfs:

    Why costs really matter.
    Low costs let you keep more of your return.At 0.1% you can buy a Nifty 50 index fund & at 0.3% – a NN50 fund.Low cost leads to better performance; it means you keep more of your returns.
    It’s one of the few things in investing that you can control.

  • From jay_b2427:

    જય શ્રી કૃષ્ણ
    Nifty 50
    Resistance – 11380 -11430
    Support 11250 – 11300
    Nifty Bank
    Resistance – 23400 – 23600
    Support 1 – 22900 – 22450
    Baj Finance Buy above 3650 T 3668 / 3685 SL 3630
    Indusind Bank Sell below 610 T 603/ 597 SL 616
    #nifty50 #banknifty #INTRADAY

  • From sst295:

    @_mo_hit__ @dmuthuk If you don’t have mentor just start with 5 stocks of any of top 10 of nifty 50. Buy today, observe price, observe chart how it moves down or up, learn to recognise every candle what it says,