Ascending Triangle Pattern Breakout in Bajaj Finance

The chart of **Bajaj Finance Ltd. (NSE: BAJFINANCE)** on the **weekly timeframe** shows a **recent breakout from an ascending triangle pattern**.

### **Ascending Triangle Pattern Breakout:**
1. **Structure of the Pattern:**
- The **horizontal resistance** zone (highlighted in blue) was previously tested multiple times, around **7,768 - 8,000**.
- The **ascending trendline** (in purple) has consistently provided higher lows, forming the base of the triangle.
- The price was **squeezing between the resistance and the ascending trendline**, creating buying pressure.

2. **Breakout Confirmation:**
- The price has successfully broken above the resistance **with strong bullish momentum**.
- A significant **green breakout candle** suggests strong buying interest.
- The breakout occurred after multiple rejections at resistance, indicating **accumulation before the breakout**.

3. **Retest Possibility:**
- Price may pull back toward the **7,768 - 8,000 zone** to **retest the breakout level as new support** before continuing its upward move.
- A successful retest would confirm the breakout and strengthen bullish confidence.

4. **Target Projection:**
- The **height of the ascending triangle** (from the base near 6,400 to the resistance around 8,000) is approximately **1,600 points**.
- Applying this range to the breakout point suggests a potential **target of around 9,600 - 9,800**.

### **Conclusion:**
- The **ascending triangle breakout** is a strong bullish signal.
- The price may **retest the breakout zone before continuing higher**.
- **Long-term trend remains bullish**, supported by the trendline and momentum.