NIFTY 50 (NIFTY) Underperforms All equity indices, Down 1.54%; But Still in an Uptrend Over Past 90 Days

The Hourly View for NIFTY

Last Updated April 6, 2021, 03:018 GMT

Currently, NIFTY 50’s price is down -146.85 (-0.99%) 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

14637.8 was the closing price of the day for NIFTY 50, resulting in today being one in which price moved down 1.54% ($229.55) from the day prior. On a relative basis, NIFTY 50 was the worst performer out of all 14 of the assets in the equity indices asset class today. Let’s take a look at the daily price chart of NIFTY 50.

NIFTY

NIFTY 50 Technical Analysis

Notably, NIFTY 50 crossed below its 20 and 50 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 16 out of the past 30 days.