Banknifty Pivot Point

 Banknifty Pivot Point

The Banknifty Pivot Point is a technical indicator that can be used to identify potential support and resistance levels for the Banknifty index. It is calculated by taking the average of the previous day's high, low, and close.

The pivot point is marked as a horizontal line on the chart. The support and resistance levels are calculated by adding or subtracting a percentage of the pivot point from the pivot point. The most common percentage used is 10%, but other percentages can be used as well.

In the chart above, the pivot point is 47,661.70. The support levels are 47,524.60, 47,344.30, and 47,207.20. The resistance levels are 47,842.05, 47,979.10, and 48,159.45.

If the Banknifty index breaks below the S1 level, it could indicate that there is selling pressure and that the index could fall further. Conversely, if the index breaks above the R1 level, it could indicate that there is buying pressure and that the index could rise further.

Of course, pivot points are just one technical indicator that can be used to analyze the market. It is important to consider other factors, such as the overall market sentiment, economic news, and company earnings, when making trading decisions.

https://drive.google.com/drive/folders/1FoP0Md6H08bIL9gbYYKqPPjerUI12gSN

https://bit.ly/48vdACe

https://docs.google.com/document/d/e/2PACX-1vR6OwQPjTLP7wPvA5al2uBfQWFgiiL7gqOcNFQ77PHgl8BGNvffAQudFmJO6JD4TChQ0Tl8yyYyQcP5/pub

https://bit.ly/3RN8cn1

https://docs.google.com/presentation/d/e/2PACX-1vS0Y3gLI-SjYOeObrgrfrGG15Wn_6SCPF3gNhdmh1skTGD2CTO4OuByc3NPp_hEhVYssYpwBGv_vkzB/pub?start=false&loop=false&delayms=3000

https://bit.ly/48GnaSN

https://sites.google.com/view/bankniftypivotpoint/

https://bit.ly/3H6X0go

https://merchandise01.blogspot.com/2024/01/banknifty-pivot-point.html

https://bit.ly/48klX3T


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