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Base formation in AXIS Bank
ICICI- EMA shaping upwards again
HDFC Bank:- close to 52 week highs
All 3 indicating that Private Banks might lead going forward.
Lets see
Similar reversal observed in Kotak on Monthly charts
🟢Bullish Pennant - The bull pennant is a bullish continuation pattern that signals the extension of the uptrend after the period of consolidation is over. Unlike the flag where the price action consolidates within the two parallel lines, the pennant uses two converging lines for consolidation until the breakout occurs.
🔴Bearish Pennant - A bearish pennant is a technical trading pattern that indicates the impending continuation of a downward price move. They're essentially the opposite to bullish pennants: instead of consolidating after a move up, the market pauses on a significant move down.
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