Market Data

Sunday, August 2, 2020

Raghav's Picks Trading Range Indicator(s) for 03-08-2020

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, BHARTIARTL &  AXISBANK [All Spot Levels] for 03rd August 2020:

Date 3-Aug-20
Low 37431.7
SENSEX 37606.9
X 37645.5
Z 37664.8
High 37897.8
Y 38309.5

Date 3-Aug-20
Low 546.3
Z 549.9
X 553.5
High 559.3
Y 569.6

Date 3-Aug-20
Low 421.3
Z 426.8
X 429.1
High 434.45
Y 442.5

If you would like to use the Trading Range Indicator for a Stock of your choice, please reply to this email.



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