The Hourly View for NIFTY
Last Updated June 29, 2021, 02:018 GMT
At the moment, NIFTY 50’s price is down -36.8 (-0.23%) from the hour prior. This is the 2nd consecutive hour NIFTY 50 has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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
The choppiness in the recent daily price action of NIFTY 50 continues; to start today, it came in at a price of 15814.7 US dollars, down 0.29% (45.65) since yesterday. Relative to other instruments in the equity indices asset class, NIFTY 50 ranked 6th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of NIFTY 50.
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. Or to view things another way, note that out of the past 10 days NIFTY 50’s price has gone up 5 them.