As long as the stock respects the trendline, its ok. For targets of 650+. Since target is far away, stoploss is also a bit deep. SL - 490
Comments
aditya737
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Agree with your analysis - but why keep the stop at 490 - and not a close below the TL
arifkmcy
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Thanks aditya737 for the query. If ur timeframe is less, I feel SL can be set just below the upper line of the flag. Since my timeframe is for a medium term,the targets set as per the flag pole are 650+. And given the structure,there is a strong support at 490. Moreover placing a stoploss just below the trendline may b risky also going through the lower wicks on the earlier candlesticks.