vanathi
Short

Arvind facing strong resistance

NSE:ARVIND   ARVIND LTD
131 views
4
Arvind is trending inside the channel, getting ready to break. Price action in daily chart also shows weakness. We can short with the stoploss of 360 when it breaks the channel along with main index mighty nifty . Maximum target is 345.
Trade active: Short at 363 with stoploss 367
Comment: This week I am checking what mistakes I am doing in trading entries. Trading entry against the main index and trading entry along with the main index.
Comment: 370 is strong resistance, 320 strong support for Arvind. I checked daily chart. https://in.tradingview.com/chart/QtD56Ik... When the price action forms bearish candlestick patterns at the resistance level, RSI clearly shows what will be the next movement. When RSI is above 50, price action breaks the resistance. When RSI isbelow 50, price action unable to break resistance, it goes back to support level.
Comment: This post is continued in "Arvind - Dow tenet 3"
Join me in telegram to learn & earn. I also post my trades there & live calls. https://t.me/Analysis4Newbie
To learn about system trading, https://neomechanicaltrader.home.blog/

Comments

Stop loss got hit
Reply
vanathi sethuramcbe
@sethuramcbe, Trade didnt get activated. Can go short when nifty is falling and the channel is broken.
Reply
@vanathi,

Tx Vanathi :)
Reply
vanathi sethuramcbe
@sethuramcbe, Resistance is broken with high volume implies, the stock is strong.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out