Step Sum Analysis : Nifty as at March 2017

With out explanation as http://lalitlk-lalit-lk.blogspot.in/2016/09/analysis-of-nifty-with-step-sum.html  amply cover, let me put up a Nifty Step Sum chart for 5 years period ended on 31^st March 2017 :

 

Next chart is end of month picture over five years.

 

Nifty index ,since 03/11/1995, is behaving like a irregular pendulum with sometime "Step Up" or "Step Down" and picture as on 31st March 2017 being displayed below :

 

In short, Nifty Index had 2827 number of "Step Up" , 7 number of  "No change" and 2502 number of "Step Down" giving the value of Step Sum of 325. Some significant Step Sum numbers are Tabulated below :

 

#1 : Nifty all time low ATL 775.43 had a Step Sum value of minus 35 based on 119 “Step Up” & 154 “Step Down”.

#2 : On 30/10/2002 step sum showed a 0 (Zero value) & remained positive since then.

#3 : With ATH in Nifty at 9119, step sum showed a high of 314 based on  2566 “Step Up” & 2252 “Step Down”, subsequently after a peak of 315 & low of 287 and  it came out of the range to show a high of 325 on 30^th March 15, 2017.

Count_15 signifies number of "Step Up" & "Step Sum" in 15 days. Following two charts depict Step Sum with Count_15 for full data :

 

Next, filtering out almost 95% of data with Count_15 < (+/-)7 ;   that just four cases of  13  implying 14 "Step up" with 1 "step down" and one case of (-) 13 implying 14 "Step down" with 1 "step up" were seen for Nifty.

 

 Analysis of "count_15" over year 1995-2017 along with Yearly Step Sum  are covered in Table :

 

It is observed that incremental step sum is a function of netting of Positive & Negative value of Count_15 during the year ; as for example in Year 2003 huge rise of 56 in Step Sum was helped Count_15 been 3 of Cnt 13, 15 of Cnt 11, 30 of Cnt 9, 23 of Cnt 7, 30 of Cnt 5, 7 of Cnt 3 & negative 17 of Cnt 1  .

 Example of dragging down in Count_15 is shown in next Table :