NIFTY 50 technical analysis
Technical analysis of NIFTY 50 (index) with the Montbon Method — Elliott Waves, moving averages and a 0–100 score.
What is NIFTY 50
The NIFTY 50 is a stock index representing the 50 largest companies listed on the Indian stock market. The index is calculated and managed by the National Stock Exchange of India (NSE) and serves as a benchmark for the Indian equity market.
Description generated automatically from public sources; it may be inaccurate or out of date.
NIFTY 50: latest session data
Closing values for October 18, 2026, computed on the last 12 months of prices.
Moving averages
21 sessions
22,843.17 $
+0.20%
50 sessions
23,514.27 $
−2.66%
200 sessions
24,174.48 $
−5.32%
Session levels
s2
22,833.88
Support
s1
22,990.02
Support
pivot
23,069.93
Pivot
r1
23,226.07
Resistance
r2
23,305.98
Resistance
How to read it
In the October 18, 2026 session NIFTY 50 closed lower at 22,888.95 $, −1.11% versus the previous session.
The price sits mixed against its moving averages: +0.20% against the 21-session average, −2.66% against the 50 and −5.32% against the 200.
The 14-period RSI reads 47.7, in neutral territory.
MACD stands at -185.038 against a signal line at -273.791: the histogram is positive (+88.753).
ADX reads 38.1, indicating a marked directionality.
Levels computed on the latest session place supports at 22,990.02 and 22,833.88 $ and resistances at 23,226.07 and 23,305.98 $, around a pivot of 23,069.93.
The average daily range (ATR) is 274.865 $, or 1.20% of price.
Turnover was 285.8K shares, 86% of the 20-session average.
Over the last twelve months the price ranged between 22,179.90 and 24,774.30 $, and today stands −7.61% from the period high.
Measures computed on closing prices. They describe the past; they are not forecasts.
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How Montbon’s technical analysis works
Montbon analyses markets with Elliott Waves, multi-timeframe moving averages and a 0–100 score summarising the technical setup. It is an informational screening tool.
Elliott Waves
Wave counting to frame the price structure.
MTF moving averages
Moving averages across timeframes to read the trend.
0–100 score
A technical summary of the setup, updated daily.
FAQ about NIFTY 50
How is NIFTY 50 analysed technically?
Technical analysis of NIFTY 50 is based on price charts and indicators such as moving averages, RSI and MACD, to observe trend, momentum and volatility across different time horizons.
Which timeframes are used for NIFTY 50?
The daily and weekly charts are typically used for medium-to-long-term trends, while intraday charts (for example 1-hour or 15-minute) are used for short-term movements.
What are Elliott Waves applied to NIFTY 50?
Elliott Wave theory describes price moves as sequences of impulsive and corrective waves; applied to NIFTY 50 it helps frame the technical structure of the historical chart and is not a forecast.
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