Next 20 days Outlook of Nifty based on Patterns from Historical Price Data as on EOD Jan-25-2024

 Jai Jinendra,

Patterns based prediction using Predictive Analytics

Every data contains patterns based on which it is possible to predict the expected movement of the market. Here I am trying to derive expected movement of  Nifty in next 20 trading session which will be approximate 1 month timeframe. 

This blog is like central repository for me that I can refer in future to see how my research of the subject is progressing. Please don't use it for your trading. See the disclaimer below.

Next 20 days Outlook of  Nifty based on Patterns from Historical Price Data as on EOD Jan-25-2024

There are two patterns one from SPX and another from Nifty that match closely to the pattern created on EOD Jan-25-2024

1. Pattern one from SPX on 16-12-2014 had a high of 6.12%, Low of -0.05% and closed 1.01% in next 20 trading days compared to next trading day opening levels.

2. Pattern two from Nifty on 23-Sep-2005 had a high of 7.73%, low of -4.61% and closed -3.35% in next 20 trading days compared to next trading day opening levels. 

How did the prediction perform one month back?

Pattern for 28-Dec-2023 had two matching patterns from SPX 
1. Pattern one from SPX on 15-Jan-1992 had a high of 0.02%, low of -3.17% and closed -0.87% in next 20 trading days compared to next trading day opening levels.
2. Pattern two from SPX on 5-Jan-2018 had a high of 4.74%, low of -3.83% and closed -3.43% in next 20 trading days compared to next trading day opening levels.

The actual close in next 20 trading days for 28-Dec-2023 was high of 1.59%, low of -2.95% and closed -1.96% compared to next trading day opening levels.

While there are minor supports in between, Next major support is 19800 levels. The next resistance is at 21600 levels.

Note - 

1. This prediction is based on the assumption that Index continues to drive on current road that it is driving into. If it takes any exit to take new road (direction), new prediction will be required.  

2. The prediction is for likely outcome not assured outcome. The actual outcome can be different or opposite of the identified outcome.

3. Global Uncertainties and events like US FOMC meets etc  could cause some disruption. 

4. Not a trading or investment recommendation, It is just a report that shares insights based on patterns. Instead of using my predictions for trading, use it as second opinion to supplement to your own analysis. 

5. Why more than one patterns are shown?


Two nearest patterns to current pattern are identified as similar patterns. While one pattern is shown that is above the current pattern and another pattern is shown that is below the current pattern.


Disclaimer - This is not a investment or trading advice / recommendation. It does not look at Technical Analysis or Fundamental Analysis. It is based on quantitative approach using Predictive Analytics. 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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