SaswataChandra

REPCOHOME - Flag Breakout Pattern

Long
NSE:REPCOHOME   REPCO HOME FIN LTD
REPCOHOME is creating a flag breakout pattern. Buying at current level can give anything above 357. A similar pattern was identified in HEG LTD and that went huge. Recommendation is to go long with a SL of 323 and target 357+.

Comments

I don't understand line chart,
+2 Reply
Use candles please
+2 Reply
On daily candlestick chart for Repco it shows a shooting star type of candlestick (5th March)...very dicey to go long unless the next candle is a big green candle...not a safe bet at all. It may be a flag but there has to be a proper confirmation...chart patterns and candlestick have to match..
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Great that helps. Thanks for your analysis. this is informative for beginners.
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