(Last Updated April 15, 2021)
Welcome to the news page for NIFTY 50 (NIFTY). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
As for trends on NIFTY, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.
The moving averages on NIFTY summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bullish, implying a upward trend, aside from a drop about 3 weeks prior.
Below is a chart showing NIFTY’s price with its moving averages.
At the time of this writing, NIFTY’s price is down -330.05 (-2.22%) from the week prior. NIFTY has seen its price go down 4 out of the past 5 weeks, thus creating some compelling opportunities for bears. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Looking further out, the moving averages on the weekly 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’s weekly price action over the past 52 weeks can be seen via the chart below.
Out of the 14 instruments in the equity indices asset class, nifty 50 ended up ranking 3rd for the day in terms of price change relative to the previous day.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Price action traders may also wish to note that we see a doji candlestick pattern on nifty 50.
For additional context, note that price has gone up 9 out of the past 14 days.
Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Relative to other instruments in the equity indices asset class, nifty 50 ranked 2nd since yesterday in terms of percentage price change.
This is the 3rd consecutive hour nifty 50 has seen its price head up.
Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 30 day timeframe.
Out of the 14 instruments in the equity indices asset class, nifty 50 ended up ranking 10th for the day in terms of price change relative to the previous day.
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.