Probability Insights of Nifty for 23-Aug-2023

 Probability Insights of Nifty for 23-Aug-2023

NIFTY - Patterns based probability prediction

Spot Nifty was expected to close higher than previous day close of 19393.60 with 56.07% probability. It indeed closed higher by 0.01%  higher than previous close at 19396.50

Overall back testing of Prediction accuracy as on 22-Aug-2023 is 54.02%.

There are totally 6625 trading days of historical price data of Nifty.

There are 857 trading days matching the pattern with that of close on 22-Aug-2023

Following is patterns based probability analysis for 23-Aug-2023

There are 481  trading days with positive close. There is 56.07% probability of spot Nifty closing > previous day close of 19396.50

There are 376 trading days with negative close. There is 43.93% probability of spot Nifty closing < previous day close of 19396.50

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

 

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