Nifty 50 (NIFTY.NDX)
Close: 22 531.00 (+42.05), May 31, 2024
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Liquidity risk: | Volatility risk: |
Short term
Nifty 50 is in a rising trend channel in the short term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. The price has reacted back after a possible false break of the rectangle formation. A decisive break up through 22709 will again give new positive signals to the index, while a break on the opposite side of the formation will be a strong negative signal. The index is testing support at points 22500. This could give a positive reaction, but a downward breakthrough of points 22500 means a negative signal. The RSI curve shows a rising trend, which supports the positive trend. The index is overall assessed as technically positive for the short term. Recommendation one to six weeks:
Medium term
Investors have paid higher prices over time to buy Nifty 50 and the index is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The price has reacted back after a possible false break of the rectangle formation. A decisive break up through 22709 will again give new positive signals to the index, while a break on the opposite side of the formation will be a strong negative signal. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 22000 points. The index is overall assessed as technically positive for the medium long term. Recommendation one to six months:
Long term
Nifty 50 shows strong development within a rising trend channel in the long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 18500 points. The index is assessed as technically positive for the long term. Recommendation one to six quarters:
Period |
Vol.bal. |
Volatility |
Liquidity |
+/- % |
1 day | - | 0.52% | 572.12 | +0.19% |
5 days | -36.27 | 1.76% | 338.67 | -1.86% |
22 days | -19.11 | 4.49% | 320.61 | -0.50% |
66 days | -16.70 | 9.39% | 327.91 | +1.85% |
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