Hi All !
All members must be aware of the Pivot Points.These ae the levels,which indicate the 2 or 3 likely supports & resistance levels for Indices & Stocks.
I would like to know,if the Index or stock reaches the 2nd or 3rd level,then what should be proper trading strategy? Suppose the Nifty reaches the 2nd or 3rd Level of resistance,then should we wait for that level to cross as market will be more bullish or we should take the opposite position as market will reach the over bought positions? Vice-versa for support.
I would request the experts to comment on this,since I've found this to be a good tool to use alongwith moving averages.And I personally feel,this combination should give a good returns.
Thanking you
All members must be aware of the Pivot Points.These ae the levels,which indicate the 2 or 3 likely supports & resistance levels for Indices & Stocks.
I would like to know,if the Index or stock reaches the 2nd or 3rd level,then what should be proper trading strategy? Suppose the Nifty reaches the 2nd or 3rd Level of resistance,then should we wait for that level to cross as market will be more bullish or we should take the opposite position as market will reach the over bought positions? Vice-versa for support.
I would request the experts to comment on this,since I've found this to be a good tool to use alongwith moving averages.And I personally feel,this combination should give a good returns.
Thanking you