The Hourly View for NIFTY
Last Updated April 7, 2021, 03:018 GMT
Currently, NIFTY 50’s price is down -28.3 (-0.19%) from the hour prior. This move is a reversal from the hour prior, which saw price move 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
14683.5 was the closing price of the day for NIFTY 50, resulting in today being one in which price moved up 0.31% ($45.7) from the day prior. Relative to other instruments in the equity indices asset class, NIFTY 50 ranked 8th since the day prior in terms of percentage price change. The daily price chart of NIFTY 50 below illustrates.
NIFTY 50 Technical Analysis
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 down 8 of the previous 14 trading days.