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Pennant

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.
lykniks lykniks RELIANCE, 45, Short ,
44 0 0
RELIANCE, 45 Short
Reliance Industries: to test 935 levels

If closes below 1100 (i.e. a breakdown), Sell: 1095, SL:1128, Target1: 1072 Target 2: 935 levels Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.

prathapreddy prathapreddy TCS, 60, Long ,
71 0 2
TCS, 60 Long
TCS

TCS can test 2280+ SL-2154

Equity-Earningz Equity-Earningz HCC, 1D, Long ,
109 0 0
HCC, 1D Long
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 ...

krishna2509 krishna2509 HCC, 1D, Long ,
50 0 0
HCC, 1D Long
HCC - Long

Classic Pennant Formation near 52 week Low, Fibo Levels

krishna2509 krishna2509 HCC, 1D, Long ,
22 0 0
HCC, 1D Long
HCC - Long

Pennant formation after sharp rise in price, followed by decrease in volume, Fib Levels

120 2 4
AUROPHARMA, 60 Short
STBT IN AUROPHARMA ON CONDITIONAL BASIS AUG FUT

AUROPHARMA SHORT TRADE(IF PENNANT BREAKOUT DOWN) AUGUST FUTURES SHORT AT THE BREAKOUT OF THE PENNANT AFTER 2:30 THE BAR WILL BE COMPLETE A BREAK BELOW THE SUPPORT LINE OF 684 IS A GOOD INDICATION SHORT@684 STOP@590 TARGET@666 LOT:1000 QTY:2

vanathi vanathi VEDL, 30, Long ,
713 22 21
VEDL, 30 Long
Vedanta - Bull pennant!

Buy above 228 with the stop loss of 226. Targets are 230, 233 and 236.

138 0 3
L_TFH, 1D Long
L_TFH triangle breakout

L_TFH triangle breakout Buy anywhere above 182.4 keep 1:1 RR

KumarAbhilash KumarAbhilash RBLBANK, 60, Long ,
150 0 9
RBLBANK, 60 Long
rbl

breakout for 590

nimbuz90 nimbuz90 JUSTDIAL, 60, Long ,
174 0 3
JUSTDIAL, 60 Long
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 ,
160 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 ,
38 0 1
GODREJIND, 15 Long
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.

87 2 1
GAIL, 1D
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 ,
113 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 ,
67 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.

471 0 9
NIFTY, D Long
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.

291 0 9
BAJFINANCE, 1D Long
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 ,
69 0 1
PURVA, W Long
PURVA Weekly Flag Breakout

Puva Weekly flag breakout. All details in chart

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