NFTY First Trust India NIFTY 50 Equal Wtd ETF Forecast, Technical & Fundamental Analysis
NFTY in -1.62% downward trend, sliding for three consecutive days on December 17, 2024
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where NFTY declined for three days, in of 202 cases, the price declined further within the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 68 cases where NFTY's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
The Momentum Indicator moved below the 0 level on December 17, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on NFTY as a result. In of 92 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Aroon Indicator for NFTY entered a downward trend on December 03, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where NFTY's RSI Oscillator exited the oversold zone, of 15 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for NFTY just turned positive on November 22, 2024. Looking at past instances where NFTY's MACD turned positive, the stock continued to rise in of 51 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where NFTY advanced for three days, in of 299 cases, the price rose further within the following month. The odds of a continued upward trend are .
NFTY may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
General Information
Category WorldStock
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NFTY and ETFs
Correlation & Price change
A.I.dvisor indicates that over the last year, NFTY has been closely correlated with INDA. These tickers have moved in lockstep 90% of the time. This A.I.-generated data suggests there is a high statistical probability that if NFTY jumps, then INDA could also see price increases.
| Ticker / NAME | Correlation To NFTY | 1D Price Change % | ||
|---|---|---|---|---|
| NFTY | 100% | -1.04% | ||
| INDA - NFTY | 90% Closely correlated | -1.05% | ||
| FLIN - NFTY | 90% Closely correlated | -1.04% | ||
| EPI - NFTY | 88% Closely correlated | -1.05% | ||
| INDY - NFTY | 87% Closely correlated | -1.05% | ||
| SMIN - NFTY | 75% Closely correlated | -0.62% |