Flag pattern formation Havells India Long

Oct 12, 2016

The Stock has formed a beautiful Flag pole and consolidating forming a flag. One can see a breakout in coming days closing above the flag gives a beautiful long entry and one can look a target of above 490 on breakout. It gives a good risk to reward ratio. Specially this flag formed a good flat base which performs better. I would go long i when it starts trading above 455 with stop loss of 445 for a target of 492. Wishing you good profit!

Oct 17, 2016

Order cancelled

Flag pattern has not given the breakout closing today has negated the Flag pattern formation so no trade generated in this probable Flag.