praveen.bhatiya

Pennant pattern breakout Long

Long
NSE:TATAELXSI   TATA ELXSI
Trade able Pennant pattern gave breakout with higher volume yesterday. It offers a good opportunity for short term gain. The pattern is relative short pattern so the target can be reached in next week. Risk to reward ratio is quite reasonable.
Trade active: Moving as expected continuing the trade with trailing stop loss.
Trade closed: target reached: Stock moved exactly as the pattern should behave. It seems still there is a energy left but I am closing the trade on reaching the target price and happy with the profit.

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