  along with previous day’s high and low So in the chart in front of you, I have marked out previous week’s high point and low point to show you how it is done This is something you have to do every single day So high and low of a week has to be marked once in a week, but high and low of previous day changes every day, and hence you have will to update it every single day The main reason to do this is to identify important price action pattern around these particular levels One more important marking which you will have to do is to mark out pivot points on chart Let me show you how this is done Now pivot points have been around since ages and they still do work very well Now there are many variations of pivot points and how they are calculated, but I still prefer to use the standard pivot points Now through pivot point calculation, you do get a pivot level, two support level that is support one and support two, and two resistance levels that is resistance one and resistance two The way these levels are calculated are given in the chart in front of you Take note of the same Let us see how this calculation is done So the first key level is the pivot level For calculating the pivot level you need to add high, low, and close and divide it by three Then you get a pivot level which is 27,160 The value for open, high, low, close for the previous session is given here Now once you have the pivot level, then you simply have to calculate the support one and support two by the formula given here That is 2*( 27,160 ), minus the high price that is 27,314, and then you will get 27,006 Similarly, you do get the support two level and resistance one and resistance two level Again, this is a very standard formula Just copy it and take a note of it I’ll also leave this formula in the comments section below So once these calculations are done on the chart, you have to mark it on the chart as I’ve shown So in the chart in front of you, you can see a pivot level along with support one, S1, and support two, that is S2 Similarly on the resistance side, we have R1 and R2 So every single day you have to mark these on your chart before the session begins So these concepts will come in handy when we start discussing about various intraday trading strategies because we are more interested towards price action around these key levels I hope this particular point is clear So let us now come to the concept of support and resistance Now support and resistance is well known to all Whenever a price repeatedly fails to cross a level, it is termed as resistance, and whenever it repeatedly fails to break a level or zone, it is termed as support So in the chart in front of you, this zone that you see here, this is resistance This is where price has faced repeated selling pressure and it has moved lower each single time And this region that you see here, this is the support where price has repeatedly faced buying and hence has moved up Again, this is very basic stuff The point that I want to show through this chart is that of resistance turning into support, and then support turning into resistance So this is the region where price has faced so much of selling pressure repeatedly Now once price moved above this, look how it now acting as support whenever price is coming back to the zone So this is one of the most important concepts in intraday trading, do keep this in mind This is one more example of this concept So price here found it difficult to get past this resistance zone, and once it did, this resistance zone now acted as a strong support where price again started moving higher So once in a while, I’ll repeat, support turning into resistance and resistance turning into support will be explored later when we get to discussing specific intraday trading strategies This remains one of the most important concepts when it comes to intraday trading and short-term trading as such Let us now move to candlestick charts and patterns For intraday and short-term trading, always be mindful of the wide-range supply and wide-range demand candles These are trend initiation candles and regions which are of high importance when it comes to trading over short-term Now few patterns and structures I will discuss in individual strategy videos, but get yourself accustomed to spotting such wide-range supply and demand candles on the chart So in the chart in front of you, you are seeing wide-range supply candles that are dominating the chart Such candles are pivotal in identify structure of price   