Pivot points are simple **mathematical formula** for calculating support and resistance in future…

For the year 2022…

Bank Nifty **opened** @ **35585.20**, made **high** of **45151.80**, made **low** of **32155.5** and **closed** @ **42986.45**

closing the year with +7504 points gain …i.e Bank Nifty gave +21.15% return on 2022 based on yearly close of 2021

**Open**=35585.20

**High**=45151.80

**Low**=32155.5

**Close**=42986.45

Calculating the **support and resitance** for 2023 based on OHLC values of 2022

Yearly pivot point(YPP) = (High+Low+Close)/3

**YPP** = (45151.80 + 32155.5 + 42986.45 ) /3 = 39765

**YBP** = ( High+low )/2 = (45151.80+32155.5)/2 = 38154

**YTP** = (2*YPP - YBP) = (2*39765 - 38154) = 41375.50

Just like for intraday’s daily CPR let’s say the above calculations( YTP, YPP, YBP) is **yearly** CPR

As Bank Nifty closed the year 2022 @ 42986.45 above yearly CPR (YTP,YPP,YBP) for 2023, the yearly CPR of 2023 likely to act as support

i.e (38154, 39765,41375) to act as support ,by the mid of March 2023 **Bank Nifty** reached **YPP** 39765 and took support

**If the yearly CPR for 2023 is higher than yearly CPR of 2022 than it is considered bullish**

Now,

**Camarilla Reversal levels(Pivots)**

**YL3** = Close - (High-Low)*1.1/4

= 42986.45 - ( 45151.80 - 32155.5)*1.1/4

= 39687

**YL3** = 39687( From here **Bank Nifty** took **support** by mid of march 2023)

For the year 2023, Yearly Pivot ie (mid point of Yearly CPR) ,**YPP**= 39765 **which is apprx equal** to **YL3**= 39687 (A confluence level of support)

**YH3** = Close +( High - Low )*1.1/4

= 42986.45+( 45151.80- 32155.50) *1.1/4

= 46285

**YH3** = 46285

**Bank Nifty** reached YH3= 46285 on 21 July 2023 and show **a sharp down move** *-2680* point i.e -5.91% down from YH3 46285

In the previous year **2022** by end of January, Bank Nifty reversed from YH3(38820) to YL3(32143) i.e a downward rally of **-6700 pts**… and remained above YL3 and finally broke YH3 upside on August 2022

Below is the **weekly chart** of **Bank Nifty** which show how **price** reacted to yearly CPR and Yearly Camarilla pivots, from the year 2017 to 2023