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.
RAYMOND is a SELL on NSE around 818.15 with SL at 825 and Target of 782
Recent Fresh Shorts initiated with 78% OI and a CS pattern of Three Black Crows Bearish.
Schiff Pitchfork ML play + traditional pivot and fibonacci systems used to find levels....
Kumo cloud of ichimoku is provided in the chart which is derived from the weekly chart..
There are 2 possibilities of the track of the price action to go, we will have to watch how the weekly pivot is held/broken...
If the weekly pivot is broken the daily S3 support is ...
MINDTREE is a BUY on NSE around 1086 with SL of 1046 and Target of 1170. If it comes down tomorrow and takes support around 1090 then get in the stock.
TECHNO is a SELL on NSE with greater volumes than usual. and long term still remains a sell.
Sell TECHNO only around 272.90 with stop-loss of 286.85 and Target of 238
USDCHF on FX exchange is consolidating above Pivot with possible bounce back as earlier the same PIVOT level helped in bounce back.
PLEASE CONSIDER ASKING YOUR FINANCIAL ADVISOR as its a RISK TRADE.
Buy at 0.98294 with Stop-loss of 0.97880 and Target of 0.99170
GBPUSD on FX can be Sold at 1.28600 with SL of 1.29315 and Target of 1.25260. Its a good opportunity and has consistently taken resistance at down-trending line. Take advise from your financial advisor before investing.
EURUSD is in a strong uptrend with a recent pullback previous day and a quick engulfing Bullish for the day's candle. Hence we are getting Long on EURUSD at 1.16190 with Stop-loss of 1.1596 and Target of 1.16855
BHEL is a buy on NSE as it has traded with 4x volumes on NSE on Friday. With a clear and crisp breakout above the lower trading line. A revisit to lower trend-line is not ruled out. Hence purchase BHEL at around 78.45 with Stop-loss of 75.45 and Target of 84.45
KAJARIACE (Kajaria Ceramics) on NSE is making a comeback with huge volumes and one-day recovery which mostly might be sold out at down-trend line.
Ask your financial advisor before investing, SHORT SELL KAJARIACE at 458 with Stop-loss of 468 and Target of 432.
LT has traded with volumes more than 6 times its average on NSE today with Total gain of 6.82% on closing basis. Stock is in Uptrend now with Gap-up opening today. Fresh Longs being built up today on LT.
Tomorrow will be an opportunity to enter the stock preferable around 1315 levels. I have mentioned an entry at 1317 with Stop-loss on closing basis below 1300 and ...
