Weekly Flag & Pole Breakout in Responsive Industries

A Weekly Bullish Flag and Pole pattern is visible on the charts of RESPONIND

Flag and Pole pattern is a bullish continuation pattern and it is visible in charts after a meaningful apprication in the RESPONIND

MACD on verge of giving Positive crossover on Daily chart and already positive crossover given on Weekly charts andmonthly chart. So, expecting the momentum to continue.

One can look to create a fresh position in the scrip near Rs. 315-330 levels with the stoploss of Rs. 260.55 on weekly closing basis. The 1st target will be 370 , 2nd target will be 414.10, 3rd target will be 462.20, 4th target will be 506.65 and fifth target will be 550.55.

And finally this study is for educational purpose only.


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