Market is still moving in a small range since 15.05.18. It has formed Ascending Triangle and currently trading at the upper line. Following trading setup are possible in this situation
1. It gives Breakout from the pattern and one go long for the target of triangle pattern.
2. Price reverses at Confluence of Pitchfork & Median Line. PF is catching the price...
TECH MAHINDRA CONDITIONAL BTST
A CLOSE ABOVE THE 703 MARK IN SPOT
PRICES WILL BE A POSITIVE PATTERN
PLUS CONFIRMATION OF ASCENDING TRIANGLE BREAKOUT
BUY @703 (AFTER 3:27)
BANKNIFTY: in ASCENDING Triangle.
Also Harmonic "AB = CD" in Progress
Possible "D" = 26271.80
EXTENDED "D1" = 26506.50 (FIB E 1.13)
EXTENDED "D2" = 26763 (FIB E 1.272)
You can notice Inverted H&S pattern is also there.
Middle line of Parallel channel, can treat as "NECK Line of Inv. H&S"
(though not pointed due to avoid more clumsiness of chart)
Rest plotted &...
All mentioned & plotted on Chart.
For Price Roll over Mouse on Chart.
Disclaimer: Take this information as study/education purpose only.
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For taking trade decision Consult with your Financial Advisor.