NIFTY 50 (NIFTY) Heads Down For the 2nd Consecutive Day; in an Uptrend Over Past 14 Days

The Hourly View for NIFTY

Last Updated June 18, 2021, 01:013 GMT

At the time of this writing, NIFTY’s price is down -8.25 (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 came into today down 0.48% (76.15) from the open of the previous day, marking the 2nd consecutive day a decline has happened. Out of the 14 instruments in the equity indices asset class, NIFTY 50 ended up ranking 11th 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

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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 8 out of the past 14 days.