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Bullish Pennant

INTRA-DAY LONG on MFSLMFSL is in prolonged up-trend. Stock has breached it's all time highs and will continue to rally up before taking a halt. A general behavior of stocks trading at ATH is the continuation of trend rather than correcting. Hence my bias is on the upside. Chart speaks for itself. Buy above 688 for the targets of 700, 707,715 with SL at 683. 688 has acted as resistance recently and is an important level to track for initiating a buy. NOTE: These are my personal views. Trade at your own risk.
NSE:MFSLLong
by shaleenbansal
#INFY-BULLISH PENNANTINFOSYS IS FORMING A BULLISH PENNANT.WE CAN EXPECT A BREAKOUT FROM THE RANGE OF 1165-1168.RED NORMAL LINES ARE LONG TERM S&R AND DOTTED RED LINES ARE SHORT TERM S&R.GREEN LINE IS THE TARGET CONSIDER THESE POINTS BEFORE ENTERING INTO TRADE; WAIT FOR A PROPER CONFIRMATION BREAKOUT BY VOLUME AND MOMENTUM BECAUSE THERE IS ALONG TERM RESISTANCE AT 1171 SET STRICT STOPLOSSES OR ON PREVIOUS SWING AS PER YOUR RISK APPETITE FOLLOW NIFTY & SECTORS FOR DOUBLE CONFIRMATION ENTER ONLY ON PROPER POINTS.AVOID TRADE IF YOU ARE NOT ABLE TO ENTER ON THE CORRECT POINT DONT TRADE AGAINST TREND AND INDICES FOLLOW FOR MORE TRADE IDEAS AND INFORMATION
NSE:INFYLong
by Muhammed_Nihal
#BALKRISIND-BEARISH PENNANTBALKRISIND IS FORMING A BEARISH PENNANT CHART PATTERN AND A NARROW RANGE 7 STOCK.THERE IS A HIGH PROBABILITY FOR A BREAKOUT. GREEN LINES ARE TARGETS,RED NORMAL LINES ARE DAILY S&R AND DOTTED RED LINES ARE SHORT TERM S&R CONSIDER THESE POINTS BEFORE ENTERING INTO TRADE; WAIT FOR A PROPER CONFIRMATION BREAKOUT BY VOLUME AND MOMENTUM SET STRICT STOPLOSSES OR ON PREVIOUS SWING AS PER YOUR RISK APPETITE FOLLOW NIFTY & SECTORS FOR DOUBLE CONFIRMATION ENTER ONLY ON PROPER POINTS.AVOID TRADE IF YOU ARE NOT ABLE TO ENTER ON THE CORRECT POINT DONT TRADE AGAINST TREND AND INDICES FOLLOW FOR MORE TRADE IDEAS AND INFORMATION
NSE:BALKRISINDShort
by Muhammed_Nihal
# 17 Long Indian Hotel for a Target of 95 and 110.NSE:INDHOTEL Reason Being: 1. Formation of Bullish Pennant and It is a Continous Pattern means Prior trend resumes after Breakout. 2. The stock has support in the zone of 78 - 80. Every Price Action Pattern after breakout provides some Target Range and according to Triangle: Entry Price: Above 81 Target Price: 95 and then 110 View Negated Below: 78 in Closing Basis. #Disclaimer: I'm not a SEBI Registered Research Analyst, These are my views, please consult your Investment Advisor before buying and selling any position. This is just for Education Purpose.
NSE:INDHOTELLong
by p18amanr
HCC : Bullish Pennant : 32% Up side Potential HCC Entry 15.15 | Stop 13.95 | Target 20 8% Risk | 32% Reward 1: 4 RR Continuation Pattern Bullish Pennant Price highs move slightly lower and price lows move slightly higher. Drawing a trend line connecting price highs and then another connecting price lows form two converging lines which are an identifying feature of the pennant. IDENTIFICATION GUIDELINES 1. The Shape of The Bullish Pennants- Price bounded by two converging trendlines. Typically, in an uptrend the top of a bullish pennant is downsloping. This makes sense since, in an uptrend, profit taking will result in lower prices as traders sell stock. 2. Formation of The Bullish Pennants – Bullish pennants involve two distinct parts, a near vertical, high volume flagpole and the symmetrical triangle, low volume triangular consolidation comprised of four points and an upside breakout. The triangular consolidation during the formation of the pennant is very much like a symmetrical triangle and this implies that traders feel comfortable with the current price. 3. Duration of The Bullish Pennants – Pennants formation are short term, from a few days to 3 weeks. Formation longer than 3 weeks often fails. 4. Volume inside The Bullish Pennants – Volumes tends to be decreasing through the formation. 5. Pre-mature or False Breakout – Because volume is usually low throughout the formation, it takes very little activity to bring about an erratic and false movement in price, talking the price outside of trendlines. 6. Breakout – Price closing above the upper trendline confirms the breakout. HOW TO TRADE THE BULLISH PENNANT Trading Rules. 1. Entry – Buy the stock day after Prices closing above the upper trendline. If you miss, Wait for the pullback to the upper trendline and buy once price resumes in the breakout direction. 2. Price Target – The technical target is, measure the height of the flagpole, the start of the sharp straight up move, and add the hight of the pole to the upper trendline. 3. Taking Profit – For short-term traders, sell the stock when the price reaches near to the price target. For intermediate and long-term traders, hold the stock as per your risk & capital management applied before entering into a trade. 4. Stoploss – usually, price closing below the lower trendline is a stop-loss.
NSE:HCCLong
by Equity-Earningz