Nifty Intraday Pivot Points

[SavantGarde]

Re: Nifty Intraday Pivot Points for 18th Oct 2007

Nifty Intraday Pivot Points for 18th Oct 2007

[SIZE="4"][B]NF CLOSE: 5561.20

PIVOT:    5401.20

R1 - 5500.20	S1 - 5290.80
R2 - 5599.20	S2 - 5218.00
R3 - 5709.60	S3 - 5178.00
R4 - 5820.00 	S4 - 5160.00
R5 - 5842.30 	S5 - 5105.40
R6 - 5853.00   	S6 - 5068.00[/B][/SIZE]

ABOVE FIGURES ARE BASED ON NF & THERE IS NO TRAILING S/L FOR TOMORROW, THEREFORE YOU MAY FOLLOW YOUR OWN DEPENDING ON YOUR RISK APPETITE.

INSPITE OF THE S/L TRIGGER NF FOR SHORT TERM IS STILL BUYHOLD & EXIT IS 5671.00

Happy & Safe Trading

SavantGarde

 

[SavantGarde]

Re: Nifty Intraday Pivot Points for 19th Oct 2007

Nifty Intraday Pivot Points for 19th Oct 2007

[SIZE="4"][B]NF CLOSE: 5318.95

PIVOT:    5590.10

R1 - 5639.65	S1 - 5511.60
R2 - 5689.20	S2 - 5433.20
R3 - 5767.60	S3 - 5383.60
R4 - 0000.00 	S4 - 5334.10
R5 - 0000.00 	S5 - 5255.65
R6 - 0000.00   	S6 - 5177.20[/B][/SIZE]

ABOVE FIGURES ARE BASED ON NF & TRAILING S/L IS 79.00

BIAS ON SHORT TERM HAS TURNED NEGATIVE & HAS TRIGGERED A 'SELL' FOR NF

Happy & Safe Trading

SavantGarde

 

[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 recording the trades, even if you can send me the draft version, i can start putting in all the trades/signals and we can then copy it into the final version.

Thanks
nb

 

[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

 

[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?

 

[stumper]

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]

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]

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]

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]

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.