Technical analysis is an important aspect of trading. Even if one is not a regular trader, having the basic knowledge of technical analysis can go a long way in achieving success in trading.
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As we all know, there are many sides to technical analysis. We have found a useful support and resistance trading course which provides a functional knowledge of 3 aspects of technical analysis:
- Dynamic support and resistance
- Pivot strike
- Option chain
In this article, we will provide you with all the information regarding this course. But before that, let us understand what these three concepts are:
Dynamic support and resistance
Support and resistance are well-known concepts in technical analysis. Support is the level where price stops falling and starts an upward trend. On the other hand, resistance is the level where price stops rising and starts a downward trend.
Primarily, there are two kinds of support and resistance – horizontal and dynamic. Horizontal refers to a fixed level of price. While dynamic, as the name suggests is more active in nature. In the dynamic form, the support and resistance lines keep changing depending on the price trend. The market may form a new high or new low as per the trend in the market, thus moving the support and resistance levels.
Dynamic support and resistance are very useful in trading.
The pivot point, another important aspect of technical analysis, is the average of intraday high and low and the closing price of a security of the previous day. If a stock trades at a higher price than the previous day, the market is considered to have bullish sentiment. On the other hand, if it closes below the pivot average, the market is considered to have a bearish sentiment.
An extremely essential concept in options trading, an option chain is the list of all the options available for a given security in the market. It includes calls, puts, their expiration date, strike price, volume, pricing information, underlying asset and other such relevant information.
How to learn pivot support and resistance?
Now let us come to the interesting part – how to master support and resistance trading. A very good education programme in this regard is being offered by elearnmarkets.com, the educational subsidiary of StockEdge, the renowned financial market app. The name of the course is “How to trade with the dynamic resistance, support, pivot strike and option chain?”
Let us take a deeper look into the course….
This support resistance trading course provides you with an in-depth understanding of various aspects related to pivot support and resistance, options trade, strike option, pivot support and much more. After completion of the course, every candidate will be equipped to interpret OI data in conjunction with volumes. This will enable them to make better decisions.
Candidates will also learn the practical use of open interest and changes in open interest data and trading strategies associated with it.
The programme is conducted in a mixture of English and Hindi languages, thus enabling anyone proficient in either of the two languages to easily understand it.
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Duration of the programme
This is a self-paced learning programme that includes 19 videos extending over 3 or more hours of content. The course is conducted by Mr Kumar Chandan.
The objective of the course
The main objective of the course is to provide you with a complete understanding of the following aspects of technical analysis:
- Open interest
- Change in open interest
- Pivot strike
- Dynamic support and resistance
- Finding Breakouts and breakdowns with the help of open interest
- Taking entry with OI target and stop-loss setting
- Identifying market trends using OI data
This is a hands-on course, where one learns through various case studies. Hence, it includes case studies on Nifty trading using open interest, change in open interest and pivot strike. Apart from this, there will be case studies on stock trading in order to learn breakouts and breakdowns.
Anyone who completes this support resistance trading course will be able to trade Nifty and Bank Nifty with complete confidence. They will be able to predict breakouts and breakdowns before they happen and also identify market trends.
Following topics are covered in this course:
- Open interest and changes in open interest in the futures and options universe
- Options chain analysis
- Understanding derivative volume and its practical use
- Using OI data and change in OI to find market trends
- Identifying breakouts and breakdown
- Understanding dynamic resistance and support
- Pivot strike on Nifty and Bank Nifty
- Case study
Who is the course meant for?
This course is ideal for anyone who wants to understand the practical use of OI and change in open interest data. If you are a trader in the futures and options segment or plan to be one, this course will be extremely beneficial for you.
During the course, students get access to a student’s forum where they can post queries and initiate or participate in discussions regarding the course. It is intended to help students to interact with their peers and learn from each other.
This budget-friendly course is an excellent way to make your mark in derivatives trading. It will enable you to understand some very important aspects of derivatives trading and master the art.
Check out the course today, to learn more about it!