Probability Insights of Nifty, Bank Nifty for 4-Aug-2023

 Probability Insights of Nifty, Bank Nifty for 4-Aug-2023

NIFTY

Spot Nifty was expected to close lower than previous day close of 19526.55 with 52.05% probability, It indeed closed in negative by -0.74% lower than previous close and closed  today at 19381.65  

Overall back testing of Prediction accuracy as on 3-Aug-2023 is 54.05%.

There are totally 6615 trading days of historical price data of Nifty.

There are 1360 trading days matching the pattern with that of close on 3-Aug-2023

There are 651 trading days with positive close with average close of 1.11%, minimum 0%, maximum 8.05%. There is 47.87% probability of spot Nifty closing > 19381.65  

There are 709 trading days with negative close with average close of -1.17%, minimum -0.003%, maximum -9.24%. There is 52.13% probability of spot Nifty closing < 19381.65  

BANK NIFTY

Spot Bank Nifty was expected to close lower than 44995.7 which was close on 2-Aug-2023 with 51.45% probability, It indeed closed in negative today on 3-Aug-2023 by -1.08% lower than previous close at 44513.45. .

Overall back testing of Prediction accuracy as on 3-Aug-2023 is 52.79%.

There are totally 4359 trading days of historical price data of Bank Nifty.

 There are 266 trading days matching the pattern with that of close on 3-Aug-2023

There are 128 trading days with positive close with average close of 1,36%, minimum 0.0001%, maximum 5.82%. There is 48.13% probability of spot Bank Nifty closing > 44513.45

There are 138 trading days with negative close with average close of --1.43%, minimum -0.01%, maximum -7.62%. There is 51.87% probability of spot Bank Nifty closing < 44513.45

Disclaimer - This is not a investment or trading advice / recommendation. It does not look at Technical Analysis or Fundamental Analysis. The outcome could be prone to data issues or calculation issues. This post is for information purpose only.  I don't charge or offer any paid service. The higher probability percentage or ranking does not guarantee the actual outcome to be matching with that of predicted outcome. I am not SEBI registered. For more details on Probability Analysis refer the FAQ in link below https://www.marketprobabilityinsights.com/p/what-is-probability-analysis.html

 


Location: India

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