Pivot Point Indicator

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US congress will oppose in addition to UN

But our problem is not connected with this

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Pl note that this my candid OPINION

LSE wrote:ASI Index values as of [06-09-2013]

Open - 5683.40
High - 5700.43
Low  - 5668.61
Close - 5672.64


R4 5,776.02
R3 5,744.20
R2 5,712.38 --->> Resistance Level 2
R1 5,692.51 --->> Resistance Level 1

PP 5,680.56

S1 5,660.69 --->> Support Level 1
S2 5,648.74 --->> Support Level 2
S3 5,616.92 --->> Support Level 3
S4 5,585.10


Conclusion :

First of all thank you very much for the valuable comments you provided me to continue this post further in a new way. Due to the comments provided by the community, I thought to present this calculation by mixing up with an another method call Fibonacci Retracement.
Currently we all are waiting for a good trigger point to break this down trend.Fibonacci Retracements are ratios used to identify potential reversal levels.



Lets look at the above calculated Pivot Point values with below Fibonacci Retracement Levels,

Trend Begining Date  - 04 Dec 2012
Trend Begining Value - 5319.29
Trend Ending Date    - 28 May 2013
Trend Ending Value   - 6532.54

Fibonacci Retracements [History | Weekly]

0.0%    ----->>> 6532.54 ---->>> Fail
100.0%  ----->>> 5319.29 ---->>> Fail
23.6%   ----->>> 6246.21 ---->>> Fail
38.2.2% ----->>> 6069.08 ---->>> Fail
50.0%   ----->>> 5925.91 ---->>> Fail
61.8%   ----->>> 5782.75 ---->>> Fail
76.4%   ----->>> 5605.62 ---->>> Next alert zone for a potential reversal
161.8%  ----->>> 4569.50
261.8%  ----->>> 3356.25
423.6%  ----->>> 1393.22


The most popular Fibonacci Retracements are 61.8% and 38.2%. Note that 38.2% is often rounded to 38% and 61.8 is rounded to 62%. Keep in mind that these retracement levels are not hard reversal points. Instead, they serve as alert zones for a potential reversal.

By using the pivot point calculation we can see the next support levels are,

S1 5,660.69 --->> Support Level 1
S2 5,648.74 --->> Support Level 2
S3 5,616.92 --->> Support Level 3

and those are the key potential reversal support levels and keep you eye on Support Level 3. Because, you can see the next alert zones for a potential reversal is laying around 5605.62.


Note

1. Watch the market behavior very carefully at this stage but don't get panic.
2. I personally believe this down trend will not continue further beyond the 5600 level.

I'd like invite you all to add your valuable comments, graphs & techniques to improve the quality of this post.


For more reading,    

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:fibonacci_retracemen

Lets hope for the best.

Thank You...

LSE wrote:ASI Index values as of [06-09-2013]

76.4%   ----->>> 5605.62 ---->>> Next alert zone for a potential reversal

By using the pivot point calculation we can see the next support levels are,

S1
S3 5,616.92 --->> Support Level 3

and those are the key potential reversal support levels and keep you eye on Support Level 3. Because, you can see the next alert zones for a potential reversal is laying around 5605.62.

LSE wrote:


Trend Begining Date  - 04 Dec 2012
Trend Begining Value - 5319.29
Trend Ending Date    - 28 May 2013
Trend Ending Value   - 6532.54

Fibonacci Retracements [History | Weekly]

0.0%    ----->>> 6532.54 ---->>> Fail
100.0%  ----->>> 5319.29 ---->>> Fail
23.6%   ----->>> 6246.21 ---->>> Fail
38.2.2% ----->>> 6069.08 ---->>> Fail
50.0%   ----->>> 5925.91 ---->>> Fail
61.8%   ----->>> 5782.75 ---->>> Fail
76.4%   ----->>> 5605.62 ---->>> Next alert zone for a potential reversal
Actual Value is ---->>> 5605.26
161.8%  ----->>> 4569.50
261.8%  ----->>> 3356.25
423.6%  ----->>> 1393.22


The most popular Fibonacci Retracements are 61.8% and 38.2%. Note that 38.2% is often rounded to 38% and 61.8 is rounded to 62%. Keep in mind that these retracement levels are not hard reversal points. Instead, they serve as alert zones for a potential reversal.

By using the pivot point calculation we can see the next support levels are,

S1 5,660.69 --->> Support Level 1
S2 5,648.74 --->> Support Level 2
S3 5,616.92 --->> Support Level 3

and those are the key potential reversal support levels and keep you eye on Support Level 3. Because, you can see the next alert zones for a potential reversal is laying around 5605.62.

76.4% ----->>> 5605.62 ---->>> Next alert zone for a potential reversal

LSE wrote:ASI Index values as of [09-09-2013]

Open - 5671.76
High - 5677.17
Low  - 5605.26
Close - 5605.26


R4 5,844.96
midpoint 5,809.01
R3 5,773.05
midpoint 5,737.10
R2 5,701.14 --->> Resistance Level 2
midpoint 5,677.17
R1 5,653.20 --->> Resistance Level 1

midpoint 5,641.22 --->> Mid Resistance Point

PP 5,629.23

midpoint 5,605.26 --->> Mid support Point

S1 5,581.29 --->> Support Level 1
midpoint 5,569.31
S2 5,557.32 --->> Support Level 2
midpoint 5,521.37
S3 5,485.41
midpoint 5,449.46
S4 5,413.50



Conclusion :

All the theories are well directed in to a same point and I'd like to say this is the beauty of the analyze among different techniques.

Well, yesterday it's reach to the expected point 5,605.26  and on pivot points analyze on mid support point is  laying on the same point exactly [5,605.26].  Now you can see how much those theories are interconnected and how much they are accurate. [On theoretically and practically - except malfunctioning]
If you carefully follow the post from the beginning you will find many such points like this. this is kind of a special scenario.

Yesterday close is laying on the Mid support point. So, we can expect a sudden uptrend if it's working according to the theories. But, practically we can't expect the same behavior as we experienced in several times. Lets see...


Note

I think we can expect some potential reversal pattern form today onwards.


Lets hope for the best.

Thank You...

K.Haputantri wrote:Thanks LSE, once again, your prediction has come true. Continue the good work.

LSE wrote:

All the theories are well directed in to a same point and I'd like to say this is the beauty of the analyze among different techniques.

Well, yesterday it's reach to the expected point 5,605.26  and on pivot points analyze on mid support point is  laying on the same point exactly [5,605.26].  

LSE wrote:

K.Haputantri wrote:Thanks LSE, once again, your prediction has come true. Continue the good work.

Appreciate your comment Hapu. Today analyze will coming soon...

Thank you.

LSE wrote:
Conclusion :

Yesterday closed value [5667.33] > Calculated PP [5,651.84]. Trading above the pivot point is thought to indicate ongoing bullish sentiment. It is generally considered that if the pivot point is broken in an upward movement then the market is bullish.

Key point will be the Resistance Level 2.

LSE wrote:

LSE wrote:
Conclusion :

Yesterday closed value [5667.33] > Calculated PP [5,651.84]. Trading above the pivot point is thought to indicate ongoing bullish sentiment. It is generally considered that if the pivot point is broken in an upward movement then the market is bullish.

Key point will be the Resistance Level 2.

sikka89 wrote:

LSE wrote:

LSE wrote:
Conclusion :

Yesterday closed value [5667.33] > Calculated PP [5,651.84]. Trading above the pivot point is thought to indicate ongoing bullish sentiment. It is generally considered that if the pivot point is broken in an upward movement then the market is bullish.

Key point will be the Resistance Level 2.

Tomorrow?????????

LSE wrote:Get Technical Analysis Chart(s)

http://finance.yahoo.com/q/ta?s=^CSE&t=1y&l=on&z=l&q=c&p=p%2Cb%2Ce20%2Ce5%2Cm10&a=r14%2Cm26-12-9&c=

  

dhanurrox wrote:

LSE wrote:Get Technical Analysis Chart(s)

http://finance.yahoo.com/q/ta?s=^CSE&t=1y&l=on&z=l&q=c&p=p%2Cb%2Ce20%2Ce5%2Cm10&a=r14%2Cm26-12-9&c=

  

RSI around 20,What are the other leading indicators of bull?