Recent experimental observation of magicity in $^{78}$Ni has infused the interest to examine the persistence of the magic character across the N$=$50 shell gap in extremely neutron rich exotic nucleus $^{78}$Ni in ground as well as excited states. A systematic study of Ni isotopes and N$=$50 isotones in ground state is performed within the microscopic framework of relativistic mean-field (RMF) and the triaxially deformed Nilson Strutinsky model (NSM). Ground state density distributions, charge form factors, radii, separation energies, pairing energies, single particle energies and the shell corrections show strong magicity in $^{78}$Ni. Excited nuclei are treated within the statistical theory of hot rotating nuclei where the variation of level density parameter and entropy shows significant magicity with a deep minima at N$=$50, which, persists up to the temperatures $approx$ 1.5$-$2 MeV and then slowly disappear with increasing temperature. Rotational states are evaluated and effect of rotation on N$=$50 (Z$=$20$-$30) isotones are studied. Our results agree very well with the available experimental data and few other theoretical calculations.
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