Buying Pennant Breakout - Riks/Reward 1:4+

Entry at 662
Stop-loss 632
Target 788 ( Set as 161.8% of Wave1 )

Risk/Reward 1:4+

Voltas is in a strong uptrend. Price is trading inside an upward channel and formed a bullish pennant . Pennants look very much like a symmetrical triangle but are typically smaller in size, ( volatility ), and duration.

Voltas is in a 3rd Wave and Impulse wave 3 often is the wave with the biggest move. So, usually, wave 3 will move up above or at the upper line of a trend channel. In a rising impulse wave, it is common for the price to reach 161.8% of wave 1.
Trade active
Comment: Trailing stop-loss form 632 to 662 at entry price.

The price made a swing high of 713.50 on 18th.
Trade closed manually: The price made a low of 661 and closed at 670.

Stop-loss are realtime basis not on closing basis.

So any single tick below 662 is a SL hit.

Trade closed at breakeven.


almost touched 687, as market wave become negative Voltas shows resistance to upmove. well done gud analysis
Equity-Earningz mcpriceaction
@mcpriceaction, Thank you.
it may take support at 675
Good luck
Equity-Earningz ShreeKrishna
@ShreeKrishna, Thank you! Would like to know your view on this sir. As you have very informative ideas on your timeline on EW.
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