Flags are little tricky to play but if and when then fructify, they yield handsome return.
E.g. look at the following chart of Wipro
The spikes in candle A and B faked out the breakout attempts. In this setup it's good to be shaken off early for a breakout entry (on an intraday trade) because many a times the flag continuous it's development and breaks the preceding swing point.
One may enter again above the spike in such a case.
All the best.
Infy @ 750 now. May face some psychological resistance. Heading for T2