Indiabulls: Documentary Requirements
 
Formula of Support and Resistance Level for Intraday trading.
  • R1 (Resistance level 1) =  2*P-L
  • S1 (Support level 1) = 2*P-H
  • R2 (Resistance level 2) =  P+R1-S1
  • S2 (Support level 2)  = P+S1-R1
  • R3 (Resistance level 3) = H +2(P-L)
  • S3 (Support level 3)  = L-2(H-P)
Where
  • PIVOT (P) = (C+H+L)/3
  • Close = C
  • High = H
  • Low = L