Nifty Pivot-based Mechanical Trading System coupled with 2 and 3 Day Swing Calls

Short term bears kept their promise of a date with Spot 2850 level.
And, personally, respecting this support band & hourly oversold status, I booked 1/4th of positional shorts at Spot 2850, as mentioned earlier.

The invisible supports of 20DSMA & 50DSMA broke and Spot closed below these levels on Friday.

On downside, we still have the Pivotal Low as per Daily charts & previous strong-resistance-now-likely-support at around Spot 2820.
The reaction at this zone will signify the real picture behind the downmove from 3100+ levels to 2850 - whether as a corrective downmove or as a resumption of bearishness in the overall long term bear market, with an intention to retest October lows.

I expect an initial bounce from this 2820-2800 zone which may cross 2900. But we now have crucial resistance levels at 2960 & 3000.

Thanks Bandlab2 & LVGandhi for your suggestions & inputs.

I had initially thought of incorporating 2Day Swing & 3Day Swing Signals in the same excel file, but the problem was of data entered - the SPOT levels, which we enter in the Spot worksheet in excel file, are as per exchange-provided.
But for Day swing calls, I rely on actual chartical Highs and Lows, which may sometimes be different than the exchange provided ones. (A common known fact, that due to NSE policy, sometimes the opening high OR low - which ultimately remain the whole day's high or low, as case may be - are at times chartically invisible & due to freak calculations).
Hence, the excel file result will be different than the actual chartical levels.

There are two possible solutions to this:
1. We have another Spot's worksheet in the excel file with only Date, High, Low & Close Columns - here we enter the actual, chartical Sot's HOD & LOD.

2. No new worksheet; instead in the existing SPOT's worksheet, we enter the actual, chartical levels & not the exchange-provided one.


My argument against the second solution is that I need those exchange-provided highs & lows in pivot calculations & giving a different weightage to SPOT levels. Else, there won't be any difference between FUT & SPOT worksheet results.

Overall, I am adding a new worksheet - but it won't be a double entry pain. All the values reqd. for Day swing signals - Date, High, Low & Close - will be automatically filled in from 1st worksheet of Spot.
Then, just verify whether the High & Low values are actual & as per INTRADAY chart. (A simple ya h00 website will also do - i have given an illustration in the very first page of this thread Post # 7)
It's not every day's case that the values will be different - ONLY SOMETIMES, ONE OF THE VALUES (EITHER HOD OR LOD) WILL HAVE TO BE MANUALLY TYPED IN THE NEW WORKSHEET - if there's no change in chartical levels, then let the values stay as it is. The next columns will have the 2day & 3day Swing signals with SAR (Stop-And-Reverse) levels.

I am modifying the chart accordingly, and I have also decided to UPDATE THE EXCEL FILE EVERY SUNDAY WITH THE REQD LEVELS FOR THE BENEFIT OF NEW VISITORS OF THE THREAD.

Dear Bandlab2 & LVGandhi,

The excel file has been modified to include DAY SWING SIGNALS, and has been updated with latest Nifty data.
Please refer Post # 1 & 3 of this thread.

Thanks again for the encouragement & support.

As mentioned about the importance of 2820-200 zone, I personally covered 1/4th more of short position at Spot 2820, respecting the RSR level.
Still carrying balance 1/2 short position....

Now, higher timeframes' RSIs are in neutral zone. Tomorrow's price movement will confirm a change in short term trend, or mere pullback from oversold conditions.
As aforementioned, will keep an eye on 2 key levels: SPOT 2962 & 3002

updates please sunil

very sorry for not posting updates for 30 & 31-Dec & 1-Jan
will positively do so before 8:30 am.