1. Pattern is a Trend Reversal Pattern.
2. In this case the trend prior to the Pattern was clearly an Uptrend.
3. Bandhan Bank broke the confirmation line and a good entry, in this case, would have been @ 374 on 15. 01 .2021 using the Retest Entry Technique.
4. Target would have been the Height of the Pattern or 2R.
Ascending Triangle Pattern
1. Pattern is a Trend Continuation Pattern and should be identified in an Uptrend.
2. Similarly, Pattern is also a Continuation Pattern and should be identified in a Downtrend.
Bandhan Bank is forming an Pattern in a downtrend. Is it still valid to trade this pattern?. Nonetheless, the fact here is that the buyers seem to be in control forming higher lows and if the resistance of 350 is broken we can go for a long trade with a target of 380 (confirmation line of the pattern) or 400 (width of the base of the triangle). But it all depends on how the stock behaves at the breakout or breakdown.