FIRST TRUST INDIA NIFTY 50 E (NFTY) Stock Technical Analysis
NASDAQ:NFTY - Nasdaq - US33737J8027 - ETF - Currency: USD
We assign a technical rating of 8 out of 10 to NFTY. Although NFTY is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
NFTY has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 59.33. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 56.97, a Stop Loss order could be placed below this zone.
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51.15
When analyzing the support we can see 4 important areas.
- A support zone ranging from 56.27 to 56.97. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @54.72 from a trend line in the daily time frame.
- Support @52.89 from a trend line in the weekly time frame.
- A support zone ranging from 51.67 to 52.01. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 59.33 to 60.53. This zone is formed by a combination of multiple trend lines in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for NFTY is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for NFTY is up. |
| ChartMill Relative Strength | 70.28 | POSITIVE | NFTY has a high relative strength, it outperformed 70.28% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of NFTY is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of NFTY is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of NFTY is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.19 | NEUTRAL | The RSI value for NFTY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests NFTY has a negative trend. |
| Stochastics (14,3) | 80.6 | OVERBOUGHT | The high Stochastics value suggests NFTY may be overbought. |
| Average True Range in percent/ATR (20) | 1.56 | LOW VOLATILITY | The low ATR as a percentage value for NFTY suggests low volalility. |
| Average Directional Index/ADX (14) | 19.1 | NEGATIVE | The low ADX value for NFTY suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 58.32 | 56.26 | 2.06 (3.53%) | 25.00% |
| An entry @58.32. This is a Buy Stop order right above the 10 day moving average. | An exit @56.26. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 2.06 points, which is 3.53%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.88%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
NASDAQ:NFTY (5/22/2025, 9:36:12 AM)
58.1
-0.22 (-0.38%)