A pivot point is a technical analysis tool, or indicator you will be using while knowing the levels of S&R on chart. Pivot point is a calculations, which guide you to know the overall trend of the market over different time zones. Pivot points gets calculated by averaging high, low and closing prices from the previous trading day.
If a stock/index is trading above the pivot point, the overall sentiments remains bullish(buy), on the other hand if it trading below PP this indicates bearish(short) sentiment.