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
NSE:BHARTIARTL	554.85
High	559.3
Y	569.6

Date	3-Aug-20
Low	421.3
Z	426.8
X	429.1
NSE:AXISBANK	431.65
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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