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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.
AbhishekHSinghCMT AbhishekHSinghCMT PRO AUROPHARMA, 15, Long
AUROPHARMA: Auropharma - Pennant Push Above 700 to 725
450 7 18
AUROPHARMA, 15 Long
Auropharma - Pennant Push Above 700 to 725

There is a pennant where auropharma is resting. Let it rest, once it crosses 700-705 resistance keep a watch for a push to 722-725 Target Zone keeping stop loss below 687. Risky Trader can consider to trade in 690-695 but with strict stop loss & once you get confirmation at your end. Safe Traders Above 700-705 Zone for 722-725 Target Zone- once it crosses the ...

AbhishekHSinghCMT AbhishekHSinghCMT PRO JPASSOCIAT, D, Long
JPASSOCIAT: JP Associate - Magic happens again from 30 to 19 -Pennant Zone
339 6 12
JPASSOCIAT, D Long
JP Associate - Magic happens again from 30 to 19 -Pennant Zone

Last Price@20.40 11th Aug2017 As suggested in previous update - "Magic of 9 repeats for 30". We shall look for JP Associate to run into pennant zone 18-21. Here we are at 19 -day low@11th Aug2017. If holds then we look back close to 30 again. Trade carefully. Nifty is melting. Have added latest update to Nifty long term analysis@22nd March2017. Magic of 9 ...

PrashantRaul PrashantRaul SYMPHONY, W, Long
SYMPHONY: #Symphony Ltd Weekly Symmetrical triangle
32 0 2
SYMPHONY, W Long
#Symphony Ltd Weekly Symmetrical triangle

#Symphony Ltd Symmetrical triangle from last 2.5 year. Accumulate some upto 1400-1300 for long term. Add more above 1600 cmp-1461 30-07-2017

DSKF16 DSKF16 BHARATFORG, 240, Long
BHARATFORG: BHARAT FORGE: Is waiting for RESULT to BreakOUT -  Result SERIES
235 9 7
BHARATFORG, 240 Long
BHARAT FORGE: Is waiting for RESULT to BreakOUT - Result SERIES

BHARAT FORGE Prepare for Breakout. Projection of some HARMONIC Pattern. All Plotted in Chart. Trade setup on Query / in Market hour when opportunity comes. For FnO strategy: On QUERY. If enriched your knowledge and would help you in trading, Please don't forget to Hit / Click Like button. Your likes are the only motivation to post better ideas in ...

AkshatPatwa AkshatPatwa ICICIBANK, D,
ICICIBANK: Ready for a breakout!!! { Must Watch }
868 9 50
ICICIBANK, D
Ready for a breakout!!! { Must Watch }

Everything is mentioned on charts... Note: Do your own study before making any poistion...

gulz gulz ASHOKLEY, W, Long
ASHOKLEY: Ashok Leyland : Will you buy on Dips ?(Bullish Pennant Breakout)
630 0 7
ASHOKLEY, W Long
Ashok Leyland : Will you buy on Dips ?(Bullish Pennant Breakout)

Hi, Ashok leyland charts look super bullish as its given a pennant breakout on weekly chart & it can be considered as a long term pick. Investment Idea Ideal Entry : 97.5 Technical Target : 90 + (112-15) = 187 Stop loss : 84 or below as per risk appetite ( close basis). Chart & details shared for study purpose - Please consult financial advisor before invest. ...

HarshShivlani HarshShivlani SPICEJET, 240, Long
SPICEJET: Spicejet Flag Pennat Formation/ Upward Channel
45 0 1
SPICEJET, 240 Long
Spicejet Flag Pennat Formation/ Upward Channel

Stock is an upward channel. Broke recent resistance and now is consolidating in a pennant formation. A break above should be into above 136, for targets towards the channel resistance unless any reversal indicated.

NeeteshJain NeeteshJain PRO BANKINDIA, D, Short
BANKINDIA: Bank of India - Bearish Pennant Breakout
1313 25 34
BANKINDIA, D Short
Bank of India - Bearish Pennant Breakout

It is been observe on the daily chart that the price action breaks out from a bearish pennant pattern, indicating a further fall to downside. Target: 130 Stoploss: 144

HarshShivlani HarshShivlani MARICO, D, Long
MARICO: Marico Flag Breakout
123 4 4
MARICO, D Long
Marico Flag Breakout

The stock has broken out of the pennant formation with great volumes. One can go long for target of the pole's height "d" as given in chart. SL can be at the new trend line support of pennant or the low of previous breakout candle. Still stay cautious as may dip a little due to doji formation or may go up. (doji indicates indecisiveness).

praveen.bhatiya praveen.bhatiya BIOCON, D, Short
BIOCON: Biocon SHORT Pennant pattern.
96 0 4
BIOCON, D Short
Biocon SHORT Pennant pattern.

The stock has formed perfect pennant pattern and gave breakout with gap and good volume. It is trading below the trend line clearly telling more weakness in coming days. One can short the stock for a target of below 925.

sunildh20 sunildh20 PRO RBL, D, Long
RBL: Rane Brakes Lining - Flags and Pennants
155 0 3
RBL, D Long
Rane Brakes Lining - Flags and Pennants

Rane brakes lining will continue it's bull run for 1600+

praveen.bhatiya praveen.bhatiya MARKSANS, D, Long
MARKSANS: Marksans Pharma Pennant Breakout or Trap?
118 2 7
MARKSANS, D Long
Marksans Pharma Pennant Breakout or Trap?

I like to trade Flag(Pennant) pattern simply because it is relative smaller pattern so the holding period is less and risk to reward is mostly good. I've detected another pattern which looks promising as formed correctly fulfilling all the criteria. My only concern is its closing at the lower side forming a wick on double top zone. Is it an opportunity to enter ...

praveen.bhatiya praveen.bhatiya DHAMPURSUG, D, Long
DHAMPURSUG: Dhampur Sugar Flag breakoout !
92 0 4
DHAMPURSUG, D Long
Dhampur Sugar Flag breakoout !

The stock has formed a good pole and flag part with decreasing volume : showing the accumulation happened and gave breakout yesterday with good volume. All this make it a perfect Flag(Pennant) pattern to take advantage of. Entry best possible rate, Stop Loss 228, Target 255.

praveen.bhatiya praveen.bhatiya DCBBANK, D, Long
DCBBANK: Pennant Breakout DCB Bank Long
101 0 5
DCBBANK, D Long
Pennant Breakout DCB Bank Long

The stock has formed a beautiful Pennant and giving breakout now making the new high. One can buy the stock for the target of 170 providing the stop loss just low of today.

safri safri KOTAKBANK, 15, Long
KOTAKBANK: Bull Pennant Pattern on Kotak Mahindra Bank
102 1 4
KOTAKBANK, 15 Long
Bull Pennant Pattern on Kotak Mahindra Bank

Bull Pennant Pattern on Kotak Mahindra Bank.

praveen.bhatiya praveen.bhatiya UTTAMSUGAR, D, Long
UTTAMSUGAR: Flag (Pennant) Pattern Long !
43 0 1
UTTAMSUGAR, D Long
Flag (Pennant) Pattern Long !

Beautiful Pennant pattern gave breakout with higher volume two days ago. It is retracing which offers a good opportunity for short term gain. Mostly the Pennant is formed in half way which means that price may move as much as before forming the pattern. Stop Loss 68 Target 85. Risk to reward ratio is quite reasonable.

praveen.bhatiya praveen.bhatiya BEML, D, Long
BEML: FLAG(Pennant) breakout BEML
90 1 3
BEML, D Long
FLAG(Pennant) breakout BEML

The stock has formed a beautiful pole and gave breakout today after 8 days of consolidation with good volume. It fulfills all the criteria for a valid FLAG (Pennant) pattern One can enter long for a target of 1010.

praveen.bhatiya praveen.bhatiya TATAELXSI, D, Long
TATAELXSI: Pennant pattern breakout Long
58 0 3
TATAELXSI, D Long
Pennant pattern breakout Long

Trade able Pennant pattern gave breakout with higher volume yesterday. It offers a good opportunity for short term gain. The pattern is relative short pattern so the target can be reached in next week. Risk to reward ratio is quite reasonable.

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