Bank of Baroda Pennant pattern formation on daily TF. RSI has already broken the trendline, lets wait for price to breakout of the pattern. SL will be 167 and target 1:2 RR.
Fundamentally there is nothing encouraging here however, purely on technical basis, this stock seems to be ready for a big move.
RSI breakout is an early indication, and the relative strength of the stock seems to be in a very sweet spot.
A triple bottom is adding confidence to this Low-Risk High Reward setup.
share name : MARICO
call type : poistional
- share is forming a pennant pattern with
morning star pattern
- a good consolidation can be seen around 1 yr
- we can accumulate this share at level 500-480
with sl of 470
- approachable targets 550, 660, 660
Thanks
IRCTC formed a inverse Head & Shoulder pattern in D1 time frame and gave a breakout with good volumes. After breakout it's in consolidation phase and thus formed a flag and pennant pattern in H1 timeframe. High probability setup will be breakout of flag and pennant in bullish direction. Try to Avoid bearish direction.
Disclaimer :- I'm not a SEBI registered...
A Pennant Pattern Is A Continuation Chart Pattern, Seen When A Security Experiences A Large Upward Or Downward Movement, Followed By A Brief Consolidation, Before Continuing To Move In The Same Direction.
Buy Above ~ 2270, Wait For 15 Minutes Closing Basis With Stop ~ 2190, Target ~ 2380, 2550 Short Term Trade Setup.
Hindalco inds seems like inverted pennant flag pattern. when it will breakout downward, then only pattern will be activate. Otherwise keep concentrate for breakout whether up or down.
TECH MAHINDRA moving Downtrend channel. In between seems bullish pennant flag pattern formation in 4hrs chart. keep concentrate for breakout. If price breakout, the pattern will activate. Then it will move towards resistance. Refer upcoming Targets.
RATEGAIN is forming a bullish pennant pattern after breaking out from double bottom i.e. trend reversal pattern. Few weeks earlier it rose sharply after breaking double bottom pattern and now this vertical rise can be considered as flag. The stock is now consolidating, volumes are also drying and moving eastside towards apex point of pennant. Intraday traders and...
Bullish Pennant Pattern in NIFTY after strong bullish rally. Expected further upside rally after breakout of this pennant pattern. Wait for the breakout before long side entry.
Berger Paint formed Pennant Pattern and now facing resistance at 200 Day EMA line (Blue in chart) and volumes are dried up..
Its Technical indicators also shows some weakness,
1) RSI crossing down its 100SMA,
2) Stochastic RSI shows bearish cross down
After adani news, Adani port is in sideways from past 6 months.
Share is trying to form a pennant
If 730 is taken out we can see a good movement in this share
Buy adaniport @730
with stop loss 675
target 1100
In this self explanatory series I will be posting charts with pure technical analysis only without full length explanations , Traders can ask their doubts in comments section, Happy trading.
Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing...
In this self explanatory series I will be posting charts with pure technical analysis only without full length explanations , Traders can ask their doubts in comments section, Happy trading.
Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing...
Tata Elxsi
- Pennant pattern formation with 30 DEMA support.
- Volume and Price contracting within the pennant triangle.
- On the verge of breakout, prefer with good volumes.
- Can go long on breakout of pennant triangle.
- On weekly chart, stock in Stage 2 uptrend, this pullback may be an entry opportunity in uptrend for traders.
Only for educational purposes....
