NIFTY 50 (NIFTY) Down 0.13%; in an Uptrend Over Past 30 Days

The Hourly View for NIFTY

Last Updated June 7, 2021, 02:018 GMT

At the moment, NIFTY 50’s price is down -39.5 (-0.25%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NIFTY 50 has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NIFTY 50. Given that we see an uptrend on the 20 and 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 entered today at 15670.25, down 0.13% ($20.1) from yesterday. Relative to other instruments in the equity indices asset class, NIFTY 50 ranked 11th since yesterday in terms of percentage price change. Below is a daily price chart of NIFTY 50.

NIFTY

NIFTY 50 Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days NIFTY 50’s price has gone up 20 them.