NIFTY 500 INDEX WEEKLY GANN LEVELS CHART ANALYSIS 16/01/2024 EOD
The Nifty 500 index represents top 500 companies selected based on full market capitalization from the eligible universe.
Nifty 500 Index is computed using free float market capitalization method, wherein the level of the index reflects the total free float
market value of all the stocks in the index relative to particular base period. Nifty 500 can be used for a variety of purposes such as
benchmarking fund portfolios, launching of index funds, ETFs and structured products.
Index Variants: Nifty 500 Total Returns Index, Nifty500 Industry Indices
Standard Deviation is 22.48, Beta is 0.93 so 7% less volatile than Nifty 50 and Correlation(Nifty50) is 0.95. The Index has composition of Finnacial Services at 30.01%, IT at 10.20%, Oil Gas and Consumable Fuels at 8.53% and FMCG at 7.53% covering nearly 55% of the Inde. Above figures are updated monthly on NSE site at each month end. So last update was on 29 December 2023. Price Returns are at 10.77% and Total Returns at 12.49% since inception.
With a base of 1000 in 1995 it has reached to 19827.55 as per recent close. So a growth of 20 times nearly seen till date.
Index started at 14177.55 as per the Gann Year 2023-2024 and has reached to 19827.55. Rise of nearly 5000 plus points is seen. So mathematically 33.33% rise is seen. Squaring the low we get an important level of 19494.10 to watch on the index.
Taking the Covid Range of high and low we see an important resistance level at 20233.30. Below it an important cluster of levels to watch are 19730.40 ( current weekly low is 19736.20 an important level to watch) and below it is 19549.35 to watch. Squaring level as per the current section is at 19875 which can be watched critically. All time high is at 19923.30. Magical figure on the index could be19991.
Study all the levels with the analysis given here carefully before drawing any conclusions. Use your discretion and your system to reach concrete decisions.
Happy Trading !!!
N.B. With all usual disclaimers as applicable within the reach of the beautiful platform and all its intelligent users.
Nifty 500 Index is computed using free float market capitalization method, wherein the level of the index reflects the total free float
market value of all the stocks in the index relative to particular base period. Nifty 500 can be used for a variety of purposes such as
benchmarking fund portfolios, launching of index funds, ETFs and structured products.
Index Variants: Nifty 500 Total Returns Index, Nifty500 Industry Indices
Standard Deviation is 22.48, Beta is 0.93 so 7% less volatile than Nifty 50 and Correlation(Nifty50) is 0.95. The Index has composition of Finnacial Services at 30.01%, IT at 10.20%, Oil Gas and Consumable Fuels at 8.53% and FMCG at 7.53% covering nearly 55% of the Inde. Above figures are updated monthly on NSE site at each month end. So last update was on 29 December 2023. Price Returns are at 10.77% and Total Returns at 12.49% since inception.
With a base of 1000 in 1995 it has reached to 19827.55 as per recent close. So a growth of 20 times nearly seen till date.
Index started at 14177.55 as per the Gann Year 2023-2024 and has reached to 19827.55. Rise of nearly 5000 plus points is seen. So mathematically 33.33% rise is seen. Squaring the low we get an important level of 19494.10 to watch on the index.
Taking the Covid Range of high and low we see an important resistance level at 20233.30. Below it an important cluster of levels to watch are 19730.40 ( current weekly low is 19736.20 an important level to watch) and below it is 19549.35 to watch. Squaring level as per the current section is at 19875 which can be watched critically. All time high is at 19923.30. Magical figure on the index could be19991.
Study all the levels with the analysis given here carefully before drawing any conclusions. Use your discretion and your system to reach concrete decisions.
Happy Trading !!!
N.B. With all usual disclaimers as applicable within the reach of the beautiful platform and all its intelligent users.