Pennant Formations are basically the trend continuation pattern, the highest probability of this pattern is towards long.
Also, observe the resistance levels ( 36460 - 36610) posted last week. NSE:BANKNIFTY
Here are the potential reversal zones (PRZ) on both sides, observe them carefully at support and resistance levels.
If it's a downside move, we can see the highest probable move. Also closely monitor how the US bond yields were gonna move next week.
** I'm sharing these levels for education purpose only
Alembic LTD is trading undervalued in the sector as per the fundamental analysis.
Technical analysis also has very good levels for entry.
Per say if you are planning to invest, at CMP ~100 RS/- invest 25% of your money. Once it sustains 112-115 level, add your 75% capital.
SL and TGT were mentioned in the chart.