Pennant pattern seen in AxisBank. It's a sign of consolidation.
There's high chance of a breakout.
It's wise to take a position on the long side as the SL will be less now.
If it breaks the pennant on the downside, take a Hit & initiate trade on the opposite side.
Breakout TGT: 710 & 760
Breakdown TGT: 200 DMA
There's high chance of a breakout.
It's wise to take a position on the long side as the SL will be less now.
If it breaks the pennant on the downside, take a Hit & initiate trade on the opposite side.
Breakout TGT: 710 & 760
Breakdown TGT: 200 DMA
Comment:
Breakout on the way. Watchout