PrabhatMishra

Pivots & EMA strategy.

NSE:RELIANCE   RELIANCE INDS
February, where pivots were acting as a resistance and EMA crossover, was in the downward direction, after hitting low it cross the pivot with decent volume but then volume started decreasing and the price was increasing, eventually, there was a pullback but the price bounce back from the pivot now the uptrend was confirmed by the EMA crossing and increase in volume . Then there was a window gap-up , there were a pullback and price took support at 21 EMA then the uptrend was continued which eventually formed a FLAG pattern , then the uptrend was continued (Because FLAG formation is a continuous pattern structure).then again there was EMA crossing at Pivot Point . price consolidated for few sessions and the price plunge breaking the pivot which was confirmed by the EMA crossing in the downward direction, price again entered a consolidation phase, on (10/02/2021) price breaks the pivot and start moving upwards supported by EMA . Looking forward to the next movement.

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is it a downtrend or uptrend
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PrabhatMishra jaspreet1804
@jaspreet1804, This chart shows how Pivots act as a support and resistance, and EMA crossovers give a conformation about the movements
, as you can see earlier in the chart pivot was resistant after that it started acting as a support.

From January to mid-march pivots were acting as a resistance.(DOWNTREND)
From April to October, it was giving support in the uptrend. (UPTREND)
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