Probability Insights of #Nifty for 1-Sep-2023

 Probability Insights of #Nifty for 1-Sep-2023

NIFTY - Patterns based probability prediction

Spot Nifty was expected to close lower than previous day close of 19347.45 with 56.93% probability. However it closed lower by -0.49%  than the previous close at 19253.80

Overall back testing of Prediction accuracy as on 31-Aug-2023 is 54.64%.

There are totally 6633 trading days of historical price data of Nifty.

There are 341 trading days matching the pattern with that of close on 31-Aug-2023

Following is patterns based probability analysis for 1-Sep-2023

There are 175 trading days with positive close. There is 51.32% probability of spot Nifty closing > previous day close of 19253.80

There are 166 trading days with negative close. There is 48.68 % probability of spot Nifty closing < previous day close of 19253.80

Note - Probability analysis does not take into consideration and news flows that can force market to take different direction compared to anticipated path. also refer disclaimer below. 

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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