@Satyen
Satyen, don't get into the "why the move" things but "what if the move". There are many technical analysts who predict what will happen tomorrow and fail miserably. The goal of TA is not to predict the future or learn to do so. That said there are many good analysts that can do it fairly well. What you will need to learn is what you would do when there is a breakout and a breakdown. Everyone who trades sucessfully will tell you that trading is a game of probablity, why probability? because there is not certainty.
I don't recommend using pivots alone for taking positions but it can be used as a confirming indicator. I was one of the few who dismissed pivot point and sma as trivial but now I'm a believer!
Lets check if pivots can give us any directional cue. I'll be posting a small note on pivots for testing with this setup.
Yesterdays close didn't show much strength.
Today looking for a close above 4132 on spot to prevent further slide. Trend is clearly -ve.