Probability Insights of Nifty for 16-Aug-2023

Probability Insights of Nifty for 16-Aug-2023

NIFTY

Spot Nifty was expected to close lower than previous day close of 19428.30 with 52.12% probability. It opened gap down but closed higher by 0.03% higher than previous close at 19434.60

Overall back testing of Prediction accuracy as on 14-Aug-2023 is 54.04%.

There are totally 6622 trading days of historical price data of Nifty.

There are 842 trading days matching the pattern with that of close on 14-Aug-2023

Following is patterns based probability analysis for 16-Aug-2023

There are 471 trading days with positive close with average close of 0.91%, minimum 0.002%, maximum 15.07%. There is 55.94% probability of spot Nifty closing > previous day close of 19434.60

There are 371 trading days with negative close with average close of -0.88%, minimum -0.004%, maximum -9.05%. There is 44.06% probability of spot Nifty closing < previous day close of 19434.60

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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