1. Flag and pole pattern is clearly seen in the chart.
2. Today on 10th of november it breaks out the flag with a good bullish candle having good volume, higher than 21 day average.
3. Now it may give a retest in before picking up the momentum or continue with no retest.
So it is good to enter in the stock now , and add more on the time of retest :
Entry : CMP ( 754-774 )
StopLoss : 740
Targets ,
There are two targets ;
1. The short one is where the trendline of the flag starts 852.40 , so Target 1 will be 840.
2. On holding the stock for more time , second target is based the length of POLE when we measures the length of pole and puts it at breakout level second target comes out to be 1025 ( 38% potential ).
Target 1 : 840 , ( RR ratio > 2.5 )
Target 2 : 1025 , ( RR ratio > 8 )
Disclaimer : This analysis/strategy is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
2. Today on 10th of november it breaks out the flag with a good bullish candle having good volume, higher than 21 day average.
3. Now it may give a retest in before picking up the momentum or continue with no retest.
So it is good to enter in the stock now , and add more on the time of retest :
Entry : CMP ( 754-774 )
StopLoss : 740
Targets ,
There are two targets ;
1. The short one is where the trendline of the flag starts 852.40 , so Target 1 will be 840.
2. On holding the stock for more time , second target is based the length of POLE when we measures the length of pole and puts it at breakout level second target comes out to be 1025 ( 38% potential ).
Target 1 : 840 , ( RR ratio > 2.5 )
Target 2 : 1025 , ( RR ratio > 8 )
Disclaimer : This analysis/strategy is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.