Nifty Intraday Pivot Points

newbee · #**461** 18th October 2007, 09:52 PM

Hello Sir

In the above S/R that are given, if the price moves beyond S6, can we use the round figures like 5000, 4800 as possible support areas?

I am awaiting the excel program for trade logs, even if you can send me the draft version, i can start putting in all the trades/signals and can then copy it into the final version.

Thanks
nb

novais · #**462** 19th October 2007, 06:25 PM

Hello,

Please suggest whether Pivot based trading is effectively bringing positive results for NIFTY.

Also, it will be helpful if you can formula. Is pivot point previous day (H+L+C)/3 or using something else?

stumper · #**463** 20th October 2007, 01:12 AM

Quote:

Originally Posted by novais

Hello,

Please suggest whether Pivot based trading is effectively bringing positive results for NIFTY.

Also, it will be helpful if you can formula. Is pivot point previous day (H+L+C)/3 or using something else?

Hey Novais ,

Not sure if i got your question properly.

Pivot level based trading is just one of the many trading system used by traders. This are just resistence and support level's that you need to be aware about when trading.

Also many people use pivot level's in different way (some just fade at the levels, some buy/sell at pivot level correction, some use mid points of pivot's, etc). So either use them as it is OR use it with any other indicators or system that you might be having. I use "floor traders" pivot points but also keep track of Savant's pivot levels on my chart. My strategy is more into pullbacks onto the pivot levels (no other indicators used).

So as far as effectiveness is concerned, well.. at the end it depends on your money management part. I try to make my entry points as close as possible to pivot level's, keep a tight stop loss of 20 points. I only trade a single contract of Nifty . As per my records, i have had only 60% of my "trades" as profitable and my net gains as 75% (that is for every 100 Rupee, i end up making Rs.75 and end up lossing Rs,25). Although my entry and exit points are purely on Pivot levels sometimes "Impulse" play creeps in during taking entry. So my above figures are purely indicative.

Hope i was able to help.

Regards ,
Stumper.

novais · #**464** 20th October 2007, 02:15 AM

Stumper,

Thank you for reply. It is nice to know it is giving 60% success.

Some follow up questions:

Do you get consecutive days of losses in a week by following Pivot trading method?
Do you also get net loss in consecutive weeks or in a week?

Purpose of above questions are that when I try pivot trading based approach, when should I jump to change parameters or strategy.

stumper · #**465** 20th October 2007, 02:39 AM

Quote:

Originally Posted by novais

Stumper,

Thank you for reply. It is nice to know it is giving 60% success.

Some follow up questions:

Do you get consecutive days of losses in a week by following Pivot trading method?
Do you also get net loss in consecutive weeks or in a week?

Purpose of above questions are that when I try pivot trading based approach, when should I jump to change parameters or strategy.

Hi Novais ,

See...as i mentioned, please dont take my results as a proof for Pivot strategy. Results can vary from individual to individual.

So your question looses it's relevance because pivot levels are just areas of support and resistence. It will finally be your money management and trading system (built around Pivot levels in this case) that will determine your success. You need to prepare your trading plan first. KNow what, how and when you will trade using pivots. For example im not comfortable using Pivot plays with individual stocks. This does not mean pivot plays dont work with invidual stocks. It just means my mental makeup and strategy is not suitable for trading stocks using pivot's.

But still answering your question, Yes i do get couple of "Loss" day's in a week. As of now im yet to get "Loss" week. But as i keep my loss limited, im not worried about lossing day. There are days when i dont take any poisition at all!!!

Did it helo you ?

Regards ,
Stumper

stumper · #**466** 20th October 2007, 02:40 AM

Quote:

Originally Posted by novais

Stumper,

Thank you for reply. It is nice to know it is giving 60% success.

Some follow up questions:

Do you get consecutive days of losses in a week by following Pivot trading method?
Do you also get net loss in consecutive weeks or in a week?

Purpose of above questions are that when I try pivot trading based approach, when should I jump to change parameters or strategy.

Hi Novais ,

See...as i mentioned, please dont take my results as a proof for Pivot strategy. Results can vary from individual to individual.

So your question looses it's relevance because pivot levels are just areas of support and resistence. It will finally be your money management and trading system (built around Pivot levels in this case) that will determine your success. You need to prepare your trading plan first. KNow what, how and when you will trade using pivots. For example im not comfortable using Pivot plays with individual stocks. This does not mean pivot plays dont work with invidual stocks. It just means my mental makeup and strategy is not suitable for trading stocks using pivot's.

But still answering your question, Yes i do get couple of "Loss" day's in a week. As of now im yet to get "Loss" week. But as i keep my loss limited, im not worried about lossing day. There are days when i dont take any poisition at all!!!

Did it help you ?

Regards ,
Stumper

novais · #**467** 20th October 2007, 04:39 AM

Stumper,

Appreciate your replies. Yes it is really helpful.

With your replies I am getting that when forward-testing any strategy (pivot or mix other) I should atleast give minimum two weeks before consider to change it. In other words strategy paramters must be consistent for two weeks regardless incurring couple of days losses.

It is tough to do so in manual-mode.

Thanks.

manish_life · #**468** 22nd October 2007, 09:36 PM

dear sir

i am holding two puts 5400 and 5300. plz guide me may i sell them or hold them till expiry. i am waiting 4 ur guidence

manis

SavantGarde · #**469** 24th October 2007, 10:14 PM

Hi NB,

Firstly Please Kill The Sir Bit When Addressing Me,

Appropriate S/R Beyond 6 Should Be Approximately In The Same Proportion As R5 to R6 or S5 to S6.

You Have Noticed I Haven't Posted Anything After The 18th,
There Are Somethings In Life That Require Immediate Attention & Can't Wait.

My Apologies To You & All For Not Being Able To Post Since 19th

Same Reasons Why I Haven't Been Able To Complete The Organizer, I Promise To Do It Over The Weekend & Send It To You & All Those Who Requested.

Warm Regards

SavantGarde

Quote:

Originally Posted by newbee

Hello Sir

In the above S/R that are given, if the price moves beyond S6, can we use the round figures like 5000, 4800 as possible support areas?

I am awaiting the excel program for trade logs, even if you can send me the draft version, i can start putting in all the trades/signals and can then copy it into the final version.

Thanks
nb

SavantGarde · #**470** 24th October 2007, 10:26 PM

Nifty Intraday Pivot Points for 25th Oct 2007

Code:

NF CLOSE: 5478.00

PIVOT:    5504.90

R1 - 5557.20	S1 - 5472.40
R2 - 5609.60	S2 - 5439.80
R3 - 5642.10	S3 - 5387.50
R4 - 5674.70 	S4 - 5335.20
R5 - 0000.00 	S5 - 0000.00
R6 - 0000.00   	S6 - 0000.00

ABOVE FIGURES ARE BASED ON NF & TRAILING S/L IS 27.00

BUY NF NOV AROUND 5050 - 5100

Happy & Safe Trading

SavantGarde

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