Medium to Long term analysis of Nifty based on EOD patterns on 18-August-2023

 Medium to Long term analysis of Nifty based on EOD patterns on 18-August-2023 

Nifty has 6625 days of historical data. 

Nifty created a pattern on 18-Aug-2023 that was last seen on 29-Dec-2022.

Nifty is near 19300 on 18-Auig-2023 while it was near 18200 on 29-Dec-2022.

Between 18-Aug-2023 and 29-Dec-2022 there are 158 trading days where in Nifty touched approx the low of 16800 (-7% to -8%  fall) followed by high of 20000. The average for the range comes to 18400. 

As of now Nifty is in the range of 18400 to 20000 and is in correction.

There are 97 trading days out of 158 trading days when Nifty was in the range of 16800 to 18400. Percentage wise that comes to 61.39%

There are 61 trading days out of 158 trading days when Nifty was in the range of 18400 to 20000.
Percentage wise that comes to 38.61%

Due to dynamic nature of market, this analysis will have to be reviewed periodically. 

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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