Indiabulls is gearing itself for a major breakout.
Price is in consolidation zone after a major uptrend & volume consolidated after a decline.
It has formed a Pennant structure & uptrend will continue once it breakout of the upper trend line.
Major resistance at 235-238 levels.
Entry would be above 238 once it breaks the resistance and upper trendline with heavy...
#CHENNAIPETRO #TF_1D #Flag #Penant #Wpattern
Q1 Results : posts lesser growth. Chances are it will trade towards the lower trendline which gives us a chance to short with a target of 81-80.
SL : 90
Please note this is my view. Request you to consult your financial advisor before investing.
If price goes above 905 the trade will active and stop loss should be the 15 minutes swing low . Later i will update the chart .
Then the first target is 921 and the second target is 1017 positional in this case we should be mark the stop loss daily candle basis..
I think godrej properties breakout tomorrow
Pennant pattern - If it breaks resistance go for long else if it breaks support line of pattern go for short . Risk Ration 1:2
Always take entry based on confirmation candles from lower time frame
Disclaimer: Analysis in charts are only for educational and information purpose only. Invest or Trade at your own risk management.
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...