GRASIM has formed a FLAG AND POLE pattern on the Daily charts and has given a breakout with good volume.
The "flag and pole pattern" in technical analysis is a chart pattern that signals a potential continuation of an existing trend. It's characterized by a sharp, initial price movement (the "pole") followed by a period of consolidation (the "flag") within a defined range. A breakout from this range, in the same direction as the initial pole, suggests a likely continuation of the original trend
The target of this pattern signals an upside potential of 15% from the current price level in medium term.
Stock is trading above its 11 & 22 day EMA. RSI is at 69, signalling positive momentum.
CMP- Rs. 2804
Target Price- Rs 3200 ( 15% upside)
SL - 2704
Disclaimer: This is not a buy/sell recommendation. For educational purpose only. Kindly consult your financial advisor before entering a trade.
The "flag and pole pattern" in technical analysis is a chart pattern that signals a potential continuation of an existing trend. It's characterized by a sharp, initial price movement (the "pole") followed by a period of consolidation (the "flag") within a defined range. A breakout from this range, in the same direction as the initial pole, suggests a likely continuation of the original trend
The target of this pattern signals an upside potential of 15% from the current price level in medium term.
Stock is trading above its 11 & 22 day EMA. RSI is at 69, signalling positive momentum.
CMP- Rs. 2804
Target Price- Rs 3200 ( 15% upside)
SL - 2704
Disclaimer: This is not a buy/sell recommendation. For educational purpose only. Kindly consult your financial advisor before entering a trade.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.