Excellent analysis, but out of those 81 winning days and 91 losing days what most important is by how much Nifty gained or lost at opening bell, if on winning days Nifty gained 50 points and on losing days it lost only 25 we’d still be in net profit.
Also if our view was always Bullish for next day irrespective of how market performed today we’d have still been on right side 105 times and on wrong side 67 times, again rather than how many times we would have been right what matters most is number of points gained on 105 occasions vs the number of points lost on 67 occasions.
Now forget about carrying intraday position forward, think about getting into position at the close of current day with bullish view the next day we would have been on the right side 105 times, if we gained 10 on those 105 occasions and lost 10 on other 67 occasions we would still be in net profit. Nice and rewarding strategy tbh, one just has to be patient through drawdown.
Good data to ponder, this suggests positive open on 115 days out of 172 sample size is a 66% +ve opening. Here if we see the difference on % wise btw positive and negative gain on opening is the catch.
That’s why I went ahead and got into more details to get clear picture of by how many net points we gain, and results are highly impressive. There is also period of drawdown but in long run just like any other strategy this too is all about patience.