Some of the technical analysis indicators used for Indian stock market as follow:

Pivot Point

Indian stock market direction will be clear due to the pivot point indicator. Pivot point is calculated as an average of significant prices (high, low, and close) from the performance of a market in the prior trading period. If the market trades above the pivot point it is usually bullish trend, when trading below the pivot point its bearish trend. For many years, traders and market makers have used pivot points to determine critical support and resistance levels. Pivot point calculation

Pivot Point= (High+ Low + Close) / 3

William’s %R

William’s%R is mostly used on 14 days trading period if its below -80 values is consider as oversold, if its above -20 values is consider as overbought. William’s%R is calculate as

William’s%R = High in number of days – Today’s close / High in number of days – today’s Low * - 100

HeikinAshi Candle

Heikinashi candle moves according to ATP i.e. Average Traded Price. It is Japanese pattern. It’s computation is

Close= (Open+high+low+close) / 4

High= maximum of high, open or close (whichever is highest)

Low = maximum of low, open or close (whichever is lowest)

Open = (open of Pervious candle + close of pervious candle) /2