There are six major types of scanners available on ArihantPlus, and each scanner is used for a different purpose. The interpretation of each scanner is as follows:

• SMA/ EMA: SMA and EMA Scanners give the most accurate picture of the best entry points for stocks, according to the choice of moving averages, and can be combined with indicators to create the best strategies.

• MACD: MACD Scanners best signal when to buy and sell stocks and can be used for big trades. MACD triggers technical signals when the MACD line crosses above the signal line (to buy) or falls below it (to sell).

• RSI: It helps assess whether a financial instrument is overbought or oversold, indicating potential reversal points in its price trend. In the case of a 30-70 RSI scanner, if the stocks go into the oversold zone then there is a possibility of trend reversal. If the previous RSI is lower than the present RSI, the stock is bullish.

• Williams %R: Williams %R helps you understand if a stock is likely to be too high or too low in price, and if there could be a change in direction. A wider used scanner is -80 -20 Williams %R, where the -80 level indicates a price uptrend to enter a long position, and -20 indicates a price downtrend to exit a long position.

• ParabolicSAR: These are especially useful if you wish to book profits for large stock positions. A buy signal occurs when the dots move from above the price to below the price, while a sell signal occurs when the dots move from below the price to above the price.

• Bollinger Bands: If the price is below the lower band for a long time, it is an oversold condition and the price will move up. Hence, it offers a good chance for a long position and vice versa.