Motherson sumi is showing an intresting megapone pattern at a resistance zone with RSI indicating a -ve regular divergence . If the pattern manifestes we can see prices falling upto 244 levels .
*Bullish Megaphone Pattern Breakout in Brigade enterprises .
*How to made and trade this pattern all details are available below attached link .
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The chart pic above clearly shows a megaphone top formation on Bajaj Finance Daily Charts.
The arrows marked explains the probable trend. One needs to trade as per the price action upon Breakout above the trendline within the pattern or breakdown below the pattern support.
Bajaj Finance has formed a Megaphone Pattern. This is a very volatile script. Breakout already happened. Now when it retest the trend line buy at 4430 with stop loss 4280 for huge targets of 5140 and 5580.
Bajaj Finance after crossing All time high will become more volatile and will achieve the target in shorter time.
The Day candle chart of EUR/NZD formed the classic Megaphone pattern.
It resisted and reacted well in the trend line resistance.
The pair will be expected to be bearish and would reach the expected target considering longer term.
Gold (XAUUSD) has formed a megaphone top on hourly chart. We will take decision based on the price action which is going to unfold.
Keep watching this space for more updates of targets and SL
