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A pennant can be used as an entry pattern for the continuation of an established trend. The formation usually occurs after a sharp price movement that can contain gaps (known as the mast or pole of the pennant) where the pennant represents a period of indecision at the midpoint of the full move, consolidating the prior leg. The price is contained by a small symmetrical triangle that begins wide and converges to a point as the pattern develops.

Bullish pennants can form after an uptrend, bearish pennants can form after a downtrend. The pattern has completed when price breaks out of the triangle in the direction of the preceding trend, at which point it will likely continue in this direction. Conservative traders may look for additional confirmation of the trend continuing. The target can be estimated using the technique of measuring the length of the mast and extending it in the direction of the breakout. A common stop level is just outside the pennant on the opposite side of the breakout. Pennants should not be mistaken for triangles, which are distinct price patterns.
KumarAbhilash KumarAbhilash RBLBANK, 60, Long ,
44 0 1
RBLBANK, 60 Long

breakout for 590

nimbuz90 nimbuz90 JUSTDIAL, 60, Long ,
148 0 3
Pennant spotted in JustDial

Prices are consolidating in the form of a pennant for more than a couple of months. Expecting a nice breakout on the upside from this pattern. Since the range is broad, the price breakout will have a good move. Hence will enter only on further confirmation. Will update further on this. Thanks.

RS8868 RS8868 MRF, 1D, Long ,
152 0 6
MRF, 1D Long
MRF- Triangle Pattern

NSE:MRF just given breakout on chart and now stock looking for level 80K in next few days there is support on level 75,200. for more detail check in chart with notes too.

nimbuz90 nimbuz90 GODREJIND, 15, Long ,
34 0 1
Pennant formation in progress!!

This is going to be an intraday setup based on the pennant formation. Will go long at 616-619 zone for a target of 628. Entry - 616-619 zone SL - below 612 T1 - 623 T2 - 628 For study purpose Thanks.

77 2 1
chart pattern

formation of triangle pattern since it is a short term pattern it may be a pennant . . may expect some good breakout

shubhamkamerkar shubhamkamerkar NIFTY, 240, Long ,
110 0 1
NIFTY, 240 Long
nifty 50

peannant pattern: -breakout on either side can determine who is in control,upper side for bulls and lower side for bears. -it still seems bullish, confirmation will be given on the breakout.

nimbuz90 nimbuz90 M_M, 60, Long ,
62 0 3
M_M, 60 Long
Pennant - Work in progress

The stock is in consolidation phase in the form of a pennant after a bull run. Expecting to go long at 910 zone for a target of 940. Entry - 910 zone SL - 895 T1 - 920 T2 - 930 T3 - 940 For study purpose Thanks.

466 0 9
Nifty - Pole & Pennant Break Out.

Details Mentioned In Chart. Targets will be updated later. Positional View for 2 Months. Please Consult Your Financial Advisor Before Taking Any Decision. I am not SEBI Registered Financial Advisor.

285 0 9
Pennant pattern Breakout

The stock has nicely formed the Pennant Pattern and gave breakout with higher volume. A little more volume would have made it more reliable however this pattern has a Flat base before forming the pattern. Statistically Flag/Pennant pattern after flat base performs better. One can buy the stock for a target of 2280 - 2300 by providing the suitable SL. Disclaimer : ...

sauravkpaul sauravkpaul PURVA, W, Long ,
66 0 1
PURVA Weekly Flag Breakout

Puva Weekly flag breakout. All details in chart

30 0 4
Bulls out of the ventilator ..

TVC:IXICINDEX:NASX disclaimer... not an investing/trading recommendation

40 0 4
The Panic Broth - MIDCAP INDEX

DISCLAIMER...this is not an investing/trading recommendation

255 0 8
The Phoenix in the Fallen Bull -NIFTY50

NSE:NIFTY 9722 is The Most Important level For the health of the bull-Pivot+Kumo cloud support+ML of PF// vs// Bearish momentum of the Deepbearcrab Disclaimer... this is not an investing/trading recommendation

nimbuz90 nimbuz90 UJJIVAN, 60, Short ,
74 0 2
UJJIVAN, 60 Short
Pennant formation on Ujjivan

The stock has formed a pennant pattern with high volume data. We could either look to short below 339 or sell on rise @ 345 zone. Expecting a breakdown move of 15 - 20 points on the downside. Entry - Below 339 or sell on rise @ 345 based on further price action. SL - 350 T1 - 330 T2 - 325 T3 - 320 Purely for study purpose Thanks.

211 4 10
Flag/Pennant Breakout !

The stock is clearly in strong uptrend. Recently it has formed a perfect Pennant pattern and gave breakout yesterday with good volume by closing above the pattern high. The pattern looks promising moreover this small pattern gives fast result. One can enter the long now or on small pull back for a target of around 900. Disclaimer : All stock recommendations and ...

pratiktech pratiktech HDFCBANK, 1D, Short ,
136 6 4
Inverted Pennant Patter in HDFC Bank, Waiting for breakout

As to my earlier view, we saw same pattern in Nifty. Similar to that is taking place in HDFC Bank as of now. HDFC Bank prices have corrected about 200 points from recent high's. Prices had taken support of ascending trend line around 1840. Since then prices are moving in range bound between 1936 - 1912. By drawing a trend line we can see that prices are forming ...

pratiktech pratiktech NIFTY, 120, Short ,
243 0 4
NIFTY, 120 Short
Inverted Pennant Pattern in Nifty, Waiting for Breakout

Nifty prices have corrected about 900 points from recent high's. Prices had taken support of ascending trend line around 10276. Since then prices are moving in range bound between 10300 - 10640. By drawing a trend line we can see that prices are forming an Inverted Pennant Pattern yet the breakout is still awaited. Breakout on lower side could take prices to ...

anandnst anandnst MARUTI, 30, Long ,
51 0 2
MARUTI, 30 Long
#Maruti cash : Looks good above 9060

#Maruti cash Buy above 9060 SL 9020 Tgt 9088-9100/9140/9200 Cmp 9030

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