Nifty – Flag & Pole formation

NSE:NIFTY   Nifty 50 Index
"Reposted due to some house rule issue"

Since Liquidity is High both Nifty and Global markets are trading at New Highs.
Covid cases are decreasing and Vaccination Process is speeding up.

Nifty on Weekly and Monthly Charts, we can see Bullish Flag and Pole pattern with 11557 and 13667 as Pole (2104 points) and 14729 as Breakout area of Flag.

Hence Target for this pattern will be 14729+2104 i.e 16833

Nifty is clearly in Bullish Trend hence expecting this target to be achieved by July End

Slightly Late to Share this View hence my Stop loss is far away from current market price. However Trailing Stop loss can be used to ride this trend.
Trailing Stop loss – below 15245 (Daily Close)

Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.

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