euro rupee future major support and resistance zones for nov series
support and resistance
|Monthly technical levels|
|Month pivot point level||72.8|
How to use Pivot points for practical trading ?
- If security trading above its pivot level then expect uptrend for period and expect resistance zones as upside target and reversal points on chart for that period.
- In this scenario stop loss must be below pivot level.
- If security trading below its pivot level then it is in downtrend for that period and expect support zones as targets as well as reversal points for that period .
- Here stop loss for short positions will remain above pivot point level.
- Entry should be near support or resistance for better risk and reward ratio.
- exit strategy will be at will or at target.