Pivot Point analysis is a technique of determining key levels that price may react to. Pivot points tend to function as support or resistance and can be turning points. This technique is commonly used by day traders, though the concepts are valid on various timeframes. There are several methods of identifying the exact points. Common types of pivot points are Traditional, Fibonacci, Woodie, Classic, Camarilla and DM and each type has its own calculation method.
Most use a variation of significant prices such as established highs, lows, opening and closing prices and then apply a calculation to determine these points. They all calculate additional support and resistance levels alongside the pivot points. They can be used to determine when to enter or exit trades or to determine the range of a market. Conservative traders look for additional confirmation before entering a trade. Whether pivot points are used alone or in combination with other techniques, they are a useful tool in a technical trader's toolbox.
NSE:BATAINDIA is good to short below 1270 with 1330 as SL. Target 1143-1026. It is exhibiting Bearish AB=CD, Yearly Pivot R1, RSI Bearish Divergence, Highest Call OI at 1300 and Dark Cloud Cover Candlestick Pattern.
Charts still not very positive until it crosses 233 level.
Possible short @ current level with stop loss slightly above 233 for a target of 180 level.
Use stop loss
Close above 233 on daily basis will open a Long position for a target above 245 +
Pivotal Confluence at 1300 and RSI Bearish Divergence on Daily as well as 4 Hr chart. A Bearish candlestick pattern will confirm the reversal. For more analysis join our telegram channel t.me
Looks like good r/r for short term trade. On the higher time-frame it appears the price action could remain in consolidation. To me it appears that this trade would complete in the next 2 days.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
![NIFTY: NIFTY [forcast] Long bias, looking at 11k](https://s3.tradingview.com/c/cCHzCSa2_mid.png "NIFTY [forcast] Long bias, looking at 11k")
![INFY: Infosys [long] anticipating a push to 684](https://s3.tradingview.com/v/VdojOPdy_mid.png "Infosys [long] anticipating a push to 684")