Bajaj Auto has been falling continously since it tried to Break the all time high and it started retracing on Friday and today it has come to the 50% retracement Zone and it has Faced heavy resistance in 15MIn Time Frame IF the market continously move positive there are high chances that bajaj auto will touch the all time high again or else if the market continous...
Axis Bank was in my watchlist for today I was waiting for it to break the pattern and i did not Enter right after the Break out i waited for it to form a structure then entered the trade and made Good Profit.... Thats the reason i keep telling not to take positions right after the breakout... :D
A triangular pattern has formed get ready to enter on a breakout, Enter only if it retraces after breaking out because the breakout can be fake so take an extra cofirmation before entering.... Quick Tip Use EMA 12 for proper Entry :D
Triangular pattern is the most effective pattern in Chart analysis, If you can figure out these patterns its very easy to make 2-3% of the stock. Just dont Enter on the break out wait for the retracement and take confirmation from cpr.
Triangular Pattern has Formed on Tata Motors there can be a good move upside or Downside, Wait for the breakOut and enter on retracement, Keep your Sl and TP accordign to your Risk and reward Ratio.