It seems that nifty and major stoks like SBIN, ICICIBANK etc follows the intraday pivot levels but not accurately. Can these levels be used for entering the trades and exiting. If yes, then I don’t understand why am I getting stopped out almost every pivot trade.
Is there any way I can improve my pivot trading skills or Pivot is not the thing for India market.
Please help.
Hi Pancham…no, Indian markets do not follow pivot levels. In fact there is no market in the world that follows a set of rules.
However, there are time periods during which a pattern occurs and reoccurs…you should just be diligent enough to identify these patterns and capitalize on it… and be the first in line to dump it when it starts falling apart.
This is what works!..of course all this in my humble opinion !