The Hourly View for NIFTY
Last Updated February 19, 2021, 23:18 GMT
At the moment, NIFTY 50’s price is down -72.85 (-0.48%) 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 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NIFTY 50. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 0.59% (89.95) since the day prior, marking the 3rd straight day a decrease has occurred. Out of the 14 instruments in the equity indices asset class, NIFTY 50 ended up ranking 9th for the day in terms of price change relative to the day prior. Here is a daily price chart of NIFTY 50.
NIFTY 50 Technical Analysis
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days NIFTY 50’s price has gone up 8 them.