Bajaj Hindustan Long : Ascending Scallops

The stock has formed a beautiful Ascending Scallops pattern and closed above the pattern High on 16.02.17 thus initiated the buy signal. The patterns is very reliable so one can take advantage of it. The target would be around 1200. Theoretically one should provide the stop loss below 1040 on closing basis so one can enter now or on dips or modify the Stop Loss, depending upon their risk taking apatite.

Trade stängt: målet nått:

Closed at the target with decent profit. :)