Saturday Trading – Does the day’s move indicate anything

Tomorrow, Exchanges are conducting a special 90 minute trading session. While the objective is to test the BCP Site (NSE Circular here ), a Analyst coming on a regional channel claimed that markets next week move is dependent on how it moved on Saturday. To establish the veracity or otherwise of the same, I have extracted data and posting the same.

Image

As can be seen, there is very little correlation between the move we shall see on Saturday and how the market behaves on teh next day. Exact correlation coefficient is 0.15.

Hence how market behaves this Saturday behaves will have little relationship with how markets will move in the coming week.

 

 

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About Prashanth

Have been a full time participant in the stock markets since 1996. Run a Yahoo Group where focus is exclusively on discussions of the Indian Markets using Technical Analysis as the tool (groups.yahoo.com/group/technical-investor)
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