Right
Right Angled Triangle pattern formation in Hero MotocorpRight Angled Triangle pattern formation is happening in Hero Motocorp stock. The resistance line is at ~2969.
If the breakout happens with good volumes then the stock could rally to 3160 level.
The pattern crossed the projected 1/2 length time period of the pattern so the breakout happening between 1/2 length and 3/4 length, supported by volumes, could be strong.
If breakout happens as per pattern then:
Target ~ 3160
Stoploss ~ 2969
Disclaimer: I am not a SEBI registered investment adviser. The study is purely for educational purpose and is my personal opinion. It is not a direct investment advice.
EURPLN Plays for a Upside Breakout from the Right Angled WEDGEEURPLN had been consolidating within the Descending Broadening Wedge Pattern, since 9th November. After testing the upper trend line for the fourth consecutive time, prices registered a breakout from the pattern. In addition, the bullishness in the pair is being underpinned by the stochastic indicator, where the %K line (sky blue line) is moving above the %D line (red line). The prices are now attempting to move towards its target profit and thus traders can grab the buy opportunity and keep the profit target at 4.6000 level. Simultaneously, the stop loss can be set at 4.4686 level.
Trade information
Take profit 4.6000
Stop-loss 4.4686
BANKNIFTY: Breakout of an upward-sloping right-angled triangleNSE:BankNifty seems to be poised to break out of an upward-sloping right-angled triangle today (April 30th, 2020). An attempt was made on April 29th but was rejected in the second half of the session. Need to confirm if the breakout today sustains on a closing basis. If so, this could be a good opportunity to go long.
PFC Broadening Right-Angled and AscendingThe pattern is also called Megaphone. It has also formed 3L-Reversal at the top so one can short the stock wherever stop loss of 139.9 on closing basis is affordable. If the pattern works one can expect the price to touch the lower line around 112. Safe trader can book the profit on fib level that too offers a good risk to reward ratio
