Probability Insights of Nifty, Bank Nifty for 7-Aug-2023

  Probability Insights of Nifty, Bank Nifty for 7-Aug-2023

NIFTY

Spot Nifty was expected to close lower than previous day close of 19381.65 with 52.13% probability, However, It closed higher by 0.69% higher than previous close at 19517

Overall back testing of Prediction accuracy as on 4-Aug-2023 is 54.04%.

There are totally 6616 trading days of historical price data of Nifty.

There are 432 trading days matching the pattern with that of close on 4-Aug-2023

There are 249 trading days with positive close with average close of 0.98%, minimum 0,004%, maximum 9.45%. There is 57.64% probability of spot Nifty closing > 19517

There are 183 trading days with negative close with average close of -1.18%, minimum -0.002%, maximum -8.53%. There is 42.36% probability of spot Nifty closing < 19517

BANK NIFTY

Spot Bank Nifty was expected to close lower than 44513.45  with 51.87% probability, however, It closed higher on 4-Aug-2023 by 0.81% higher than previous close at 44879.50

Overall back testing of Prediction accuracy as on 4-Aug-2023 is 52.79%.

There are totally 4360 trading days of historical price data of Bank Nifty.

 There are 1016 trading days matching the pattern with that of close on 4-Aug-2023

There are 572 trading days with positive close. There is 56.30% probability of spot Bank Nifty closing > 44879.50

There are 444 trading days with negative close. There is 43.70% probability of spot Bank Nifty closing < 44879.50

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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