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.
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.
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.
From the SBI chart you know the direction I expect and its ready for breakout. Why Gap up ?? if you are wondering why, if a gap happens you will miss out the trade which will hit targets & you will be scolding yourself for not taking trade on friday evening. Anyway, only if you are willing to risk over two days then check with your plan & trade this SBI...
Ideal Pennant pattern has already given breakout. one can buy the stock now or at dips for the target of 300 +. Pennant pattern is small and gives result rapidly.