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 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.