Pennant pattern Breakout
Updated
The stock has nicely formed the Pennant Pattern and gave breakout with higher volume. A little more volume would have made it more reliable however this pattern has a Flat base before forming the pattern. Statistically Flag/Pennant pattern after flat base performs better. One can buy the stock for a target of 2280 - 2300 by providing the suitable SL.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
Trade closed: target reached
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.