Calculate PIVOT POINTS for Resistance and Support Level of a stock

This is high level way of calculating support and resistance level.

PIVOT POINT = P

H = PREVIOUS DAYS HIGH
L = PREVIOUS DAYS LOW
C = PREVIOUS DAYS CLOSE

P = (H + L + C) / 3
R1 = (P x 2) - L (FIRST RESISISTANCE LEVEL)
R2 = P + (H - L) (SECOND RESISTANCE LEVEL)
S1 = (P x 2) - H (FIRST SUPPORT LEVEL)
S2 = P - (H - L) (SECOND SUPPORT LEVEL)



**Note :  However, for making calls for short, mid, long term trades, do not depend on the formula. Do an in depth study.