Sunday, July 26, 2020

Raghav's Picks Trading Range Indicator(s) for 27-Jul-2020

Most of the time, a stock or an Index trades between and around x,y & z.Whenever the price crosses above all 3, a correction sets in sooner than later and vice versa when the prices go below all 3.


This technique has been back-tested for the last 7000+ trading days [since January 1991] with consistent accuracy. During periods of sustained rallies and extended corrections - the 3 variables - x,y&z stood as signposts for probable price levels.

When the stock or index manages to hold itself above all 3, keep the trailing stop loss at the highest of the 3 variables - x,y & z.Similarly, when the price is below all 3, the variable immediately above acts as a Resistance for the index.

This technique is slightly finer than BollingerBands and can be calculated on the EOD data using a simple spreadsheet. 
It can be used on any liquid stock, index, or future with at least 21 days of EODdata.


Please find below the Charts & Levels for the SENSEX, BANKNIFTY, TCS &  AXISBANK [All Spot Levels] for 27th July 2020.


Date 27-Jul-20
Z 37696.2
Low 37748.41
X 38037.7
SENSEX 38128.9
Y 38220
High 38235.73

 


Date 27-Jul-20
Low 22417.2
Z 22603.4
X 22644.4
BANKNIFTY 22662.05
High 22854.05
Y 23062.6


Date 27-Jul-20
Low 2125.1
X 2148.5
NSE:TCS 2157.4
Z 2157.4
High 2163
Y 2195



Date 27-Jul-20
Low 441.55
NSE:AXISBANK 445.6
X 447.9
Z 453.6
High 456.6
Y 472



 

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