achalmeena
Education

Arvind Long or Short dilemma

NSE:ARVIND   ARVIND LTD
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recent high 431
Method to calculate next level
(sqroot(431) -1 )^2 = 391

Draw horizontal tangent to SMA20 ( simple moving average of 20 period) , i.e. draw horizontal line at slope of SMA20 and we get 382

now 382 is also equal to :-------------

431 - 1.23 * (431-391) = approx 382

so we have two important levels 391 and 382
Trade active: Now 391 is support level. Keep target as 401 with trailing stop loss
Trade closed manually
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