NFTY Stock Tickeron detected bearish ETF Pattern: Three Falling Peaks NFTY on October 22, 2024, netting in a 4.34% gain over 3 weeks

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NFTY - First Trust India NIFTY 50 Equal Wtd ETF

Ticker: NFTY

Company: First Trust India NIFTY 50 Equal Wtd ETF

Gain from shortening: +4.34%

Confirmed: 10/22/24

Succeeded: 11/11/24

Total length: 24 days

NFTY in downward trend: 10-day moving average broke below 50-day moving average on October 16, 2024

The 10-day moving average for NFTY crossed bearishly below the 50-day moving average on October 16, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 15 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on November 07, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on NFTY as a result. In of 94 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

NFTY moved below its 50-day moving average on October 15, 2024 date and that indicates a change from an upward trend to a downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where NFTY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for NFTY entered a downward trend on November 15, 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 entered the oversold zone -- be on the watch for NFTY's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 4 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where NFTY advanced for three days, in of 298 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.