Probability Insights of #Nifty for 24-Aug-2023

 Probability Insights of Nifty for 24-Aug-2023

NIFTY - Patterns based probability prediction

Spot Nifty was expected to close higher than previous day close of 19396.50 with 56.07% probability. It indeed closed higher by 0.24%  higher than previous close at 19444.00

Overall back testing of Prediction accuracy as on 23-Aug-2023 is 54.03%.

There are totally 6626 trading days of historical price data of Nifty.

There are 858 trading days matching the pattern with that of close on 23-Aug-2023

Following is patterns based probability analysis for 24-Aug-2023

There are 482  trading days with positive close. There is 56.18% probability of spot Nifty closing > previous day close of 19444.00

There are 376 trading days with negative close. There is 43.82% probability of spot Nifty closing < previous day close of 19444.00

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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