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.
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.
I have done analysis on the Bank Nifty using supply and demand dynamics. This is candle by candle analysis. We are currently in consolidation phase and at resistance zone. The catalyst to break the resistance would be positive surprise in earnings of bank nifty companies. Negative surprise may lead to downward pressure on price with the confirmation of resistance ...
CUMMINSIND has gained 3.16% on NSE with 3.45 times its average volumes supporting fresh long positions in FNO segment on NSE. The stock is in an uptrend trading above ichimoku.
Take a JAN Positional Long on this stock in Options. Please consult your financial adviser before investing.
BUY AT : 848
Stop-Loss: 828
Target 1 : 890
nifty has consoildated between a 40 point range from last 2 sessions ... the ATR of two days as well as the next session will bring a one side move of average 150 + point ... crucial level already given in chart!
BHARATFORG has lost 8% of its ground with 10 times of its average volume on NSE signifying a greater amount of selling taking place in stock.
SELL BHARATFORG
SELL @ 540
SL @ 547
TGT @ 513
REPCOHOME is a sell on NSE as its been sold off with volumes greater than 4 times its average. and is Below ichimoku kumo.
SELL AT 352.45
Stop Loss 362.45
Target of 316
I am not a SEBI Registered Technical analyst. Please consult your financial adviser before investing. This call may be taken based on today's close of REPCOHOME.
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