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Previous Close Hit and Open Revisit |
cmohanc
White Belt
Joined: 18 Mar 2007
Posts: 5
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Post: #1  Posted: Thu Mar 29, 2007 1:53 am Post subject: Previous Close Hit and Open Revisit |
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Hi friends,
I have analyzed EOD of past 1 yr and found some interesting facts.
The prev close Hits 85% of days
The opening Price revisits on same day 85% of Days ( at least once)
When this does not happen,The modified Pivot Hits on another 9%
ie any one of the three is hit on 94% of days.
This is based on 2,90,740 EOD records.
I think this will certainly help us in having a target in mind.
Assume during intra day , u can take position based on TA and can be confident of reaching the nearest of above 3 targets which together gives u a amazing 94% chance.
Today's Pivot = (PrevDayHigh+PrevDayLow+PrevDayclose)/3
Today's Modified Pivot= Open / PrevDayClose * today'sPivot
Readers Pls note:
The open,prevclose,Mod pivot sometimes hits in the very beginning.So the targets hitting repeatedly on same day cannot be expected.It requires a study of Intraday data.I have not done that.
Last edited by cmohanc on Thu Mar 29, 2007 11:22 am; edited 1 time in total |
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SwingTrader
Site Admin
Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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| Post: #2 Posted: Thu Mar 29, 2007 10:06 am Post subject: |
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Mohan,
Very interesting, thanks for posting this information.
_________________
Srikanth Kurdukar
@SwingTrader |
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babubm
White Belt
Joined: 29 Mar 2007
Posts: 9
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| Post: #3 Posted: Tue Apr 17, 2007 10:14 pm Post subject: |
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| how is modified pivot calculated |
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nsarathc
White Belt
Joined: 13 Nov 2007
Posts: 2
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| Post: #4 Posted: Tue Nov 13, 2007 7:57 pm Post subject: |
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| babubm wrote: | | how is modified pivot calculated |
I think that's already answered in the opening post!
Today's Pivot = (PrevDayHigh+PrevDayLow+PrevDayclose)/3
Today's Modified Pivot= Open / PrevDayClose * today'sPivot |
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chellps
White Belt
Joined: 16 May 2008
Posts: 13
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| Post: #5 Posted: Wed May 28, 2008 9:21 pm Post subject: Superb |
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| Really fantastic and this is the truth. Thanks for the information. |
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easwaran1947
White Belt
Joined: 26 May 2008
Posts: 37
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| Post: #6 Posted: Sun Jun 01, 2008 12:23 pm Post subject: |
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hi cmohanc
great 
buddy
just keep doing your research
and kindly share it with
all of us
for sharing your knowledge helps
all
and the donor
thanks
cheers
easwaran
bangalroe
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karanm
White Belt
Joined: 31 Oct 2009
Posts: 3
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| Post: #7 Posted: Thu Nov 19, 2009 9:00 am Post subject: Re: Previous Close Hit and Open Revisit |
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| cmohanc wrote: | Hi friends,
I have analyzed EOD of past 1 yr and found some interesting facts.
The prev close Hits 85% of days
The opening Price revisits on same day 85% of Days ( at least once)
When this does not happen,The modified Pivot Hits on another 9%
ie any one of the three is hit on 94% of days.
This is based on 2,90,740 EOD records.
I think this will certainly help us in having a target in mind.
Assume during intra day , u can take position based on TA and can be confident of reaching the nearest of above 3 targets which together gives u a amazing 94% chance.
Today's Pivot = (PrevDayHigh+PrevDayLow+PrevDayclose)/3
Today's Modified Pivot= Open / PrevDayClose * today'sPivot
Readers Pls note:
The open,prevclose,Mod pivot sometimes hits in the very beginning.So the targets hitting repeatedly on same day cannot be expected.It requires a study of Intraday data.I have not done that. |
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