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Pennant

bullish pennant pattern trade setupgranules : cmp 316 stock is trading with bullish pennant pattern . usually trades are taken when upper price trend line is taken out with volume . our trade can be initiated at lower price support trend line where its trading now . we can extract the up move from this support zone too . bullish pennant forms after a big up move of a stock to form pole . followed by a corrective phase in a triangle similar to symmetrical one, with higher lows and lower high respectively to form pennant. trade set up : 1. buy till 310 2. keep stop loss as 288 on closing basis 3. targets : 335 / 353 / 374 / 404 /446 /500+++ long term pick technical set up : 1. bullish pennant pattern 2. trend line 3. support & resistance
NSE:GRANULESLong
by HARMONICSANAND
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