Pivot Points is technical indicator derived by calculating the numerical average of a particular stock's high, low and closing prices.

The pivot point is used as a predictive indicator. If the following day's market price falls below the pivot point, it may be used as a new resistance level. Conversely, if the market price rises above the pivot point, it may act as the new support level.

Formula:
Pivot Level P = (H + L + C) / 3 , Then Resistance 1 R1 = 2P -L ,
Support 1 S1 = 2P - H, Resistance2 R2 = P +(H - L) , S2 = P - (H - L)
R3 = R1 + (H - L ) , S3 = S1 - (H - L)


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