Nifty Pivot Trading

I use pivots for swing trading. One of the good startegy is like break of lower support or higher resistance gives the direction for next few trading days.

A real good example is last wek's break down from the second support pivot on 22 Oct. It is from this day that one can have a bearish bias going forward. The confirmation is to watch if Index can cross the first resistance line. If it gets sells off from the first resistance then we can sell the index.

In this case the pivots form a lower step patterns which shows lower prices bias.

The nifty break of lowest pivot on 22 Oct and then on 23 Oct it got sold off from the first resistance.

Attached is the chart of Nifty with pivots.

Next comes when to close the position. Well there are many signals one can use for closing the position. One easy way can be to look when Index takes support at mid pivot with getting sell of.
Will write in detail about this strategy later.