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Priceaction

Bajaj finance chart studyBajaj finance spot cmp 6186. 240 mins time frame. Price action study Descending wedge pattern formation. Counter is trading around supply zone as per descending trend line. RSI is at historical levels, where counter makes peak and reverse. Bearish reversal confirmation by candle. Counter might take pause in this bullish trend or can also retrace deeper if the recent high is not cleared on closing basis. So its alert for bulls to be at door step, as bears may take entry. view remains valid till the high is not taken out on closing basis
NSE:BAJFINANCE
by RUDRA007
what is The symmetrical triangle patternThe symmetrical triangle pattern is a technical analysis chart pattern that forms when the price of an asset is moving within a range, with the highs and lows converging towards each other. it is characterized by two trend lines that converge toward each other, forming a triangle. It is confirmed when the price breaks out of the triangle, either above the upper trend line (bullish) or below the lower trend line (bearish). Traders often look for a price target that is equal to the height of the triangle at its widest point, projected in the direction of the breakout. The symmetrical triangle pattern can be a reliable indicator of future price movement, but it should be used in conjunction with other technical analysis tools and market indicators. one can support the work by simply following BACTIFY and sharing the same with their friends all the best and happy trading
NSE:BPCLEducation
by pratik2358