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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