Nifty Pivot Point

 

Nifty Pivot Point

NIFTY pivot points are calculated based on the previous day's trading range. They are used by traders to identify potential support and resistance levels for the current day's trading.

There are four main pivot points:

  • Pivot point (P): This is the average of the previous day's high, low, and closing prices.
  • First support (S1): This is calculated as P - (H - L), where H is the previous day's high and L is the previous day's low.
  • First resistance (R1): This is calculated as P + (H - L).
  • Second support (S2): This is calculated as P - 2(H - L).
  • Second resistance (R2): This is calculated as P + 2(H - L).

Traders can use pivot points to:

  • Identify potential entry and exit points for trades.
  • Set stop-loss orders to limit their losses.
  • Take profits when the market reaches a pivot point.

It is important to note that pivot points are not foolproof. They are simply a tool that can be used to help traders make informed decisions. Other factors, such as news and market sentiment, can also affect the price of a security.

Here are some additional things to keep in mind about pivot points:

  • Pivot points are most accurate when they are used in conjunction with other technical indicators.
  • Pivot points can be used for any security, not just the Nifty.
  • There are different types of pivot points, such as Fibonacci pivot points and Camarilla pivot points.

I hope this helps! Let me know if you have any other questions.

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

https://bit.ly/48vdACe

https://docs.google.com/document/d/e/2PACX-1vQVrhZlf9VeAXrFamZQIBtxfclRAxoOvAUzC21-MXxePyPtpr_fofCCbacgOEgh9Q5ivMF5vU3Yi1KD/pub

https://bit.ly/41LCKtZ

https://docs.google.com/presentation/d/e/2PACX-1vRaR7oF5hL06sxORrf_vth1n7uCkVQMg6MgTfn3OsFc_rImK773NafGt9j2bA4LYacgYe40xR2vgOde/pub?start=false&loop=false&delayms=3000

https://bit.ly/3S01U4V

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

https://bit.ly/48gJhzt

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

https://bit.ly/4aKoSUU


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