Nifty daily stats ( 1 )

Here are some stats on the daily movement of everyone’s favorite trading instrument- The Nifty.

 

If you are an intra day trader or carry positions at STBT or BTST then you need to look at these charts again.

 

The charts are smoothed using an SMA to 3 to even out the data.

 

The charts are from June 2018 to Nov 2019 and envelop in a 15 month trading range.

 

Nifty average daily High- Low range :

 

 

The highest range has contracted from a  high of 180 to about 120 today

 

Nifty average relative volume :

 

 

The average daily volume traded is around 19 million . We monitor this figure in the trading room to look for OTF ( Other/ Longer time frame) activity.

 

Movements from Open Price :

 

 

The average move away from the Open price is about 77 today

 

Open- Previous High (low)  :

 

The market opens in the previous day’s range about 85% of the time

 

The difference between two successive closes has rarely been more than 60 points.

 

% time market stayed in previous day range :

About 10% of the time the market stays in the previous day range

 

We use statistics to back up our knowledge of the auction process and to gauge probabilities of what the market can do next.

 

For more information on how to use the information from the Market Profile and generate actionable trading strategies join up for a Level 2 model of advanced Market Profile strategies.  Visit- https://Vtrender.com/trading-room/