Himadri Speciality is forming flag & pole Pattern in a daily chart frame.
If today's candle close above 88 range, then we can see a clear breakout and it should confirmed by next day candle.
After this breakout stock will test 93 range first, once it break 94 range, it has a potential to reach 112 range as per the pattern.
Ideal SL will be below 78.
Flag and pole Breakout in Hikal in hourly chart
Supporting to our previous analysis in the day chart (Parallel channel breakout), here we can see flag and pole breakout in 1hr time frame.
which suggests there is a high chance of continuation of uptrend.
To know more refer below link of daily chart
Strong stage 2 uptrend
belongs to a strong sector - capital goods
very shallow pullback and tight conolidation and volumes drying up
multiple inside days in a row
forming a vcp on hourly time frame within this consolidation region
Entry : above 3400
sl: below 3250
Target : no targets, book 30% at 3:1 rr, and trail the rest on hourly pivots
Happy Independence Day!
(For all the Flag patriots, know that these flag-drawings are just symbolism.
These are not Indian National Flags, since they dont hv Ashok Chakra! nor official correct dimensions.)
Weekly / hourly Flag patterns ! Pick your Winners!
Bajaj Electrical (4h)-->
Granules India Limited has made longterm line breakout in daily timeframe.
Nifty Pharma is also in upward momentum and this will support Granules India in up trend.
RSI is also crossing 60 level and bollinger bands are expanding.
Bollinger band are standard deviation of average price of stock and expanding Bands show there are chances of big move in stock.
Granules India has formed three drives and Flag pattern on the Monthly and weekly charts. Looks good for going Long for minimal target of 435+ and if it breaches and closes above this then we can see target for 500+
IGL has created a very good 'Flagpole Pennant pattern on daily basis.
There was sharp upmove observed from the levels of 350 -440 (8 aug - 16 Aug). After that the stock has been consolidating only from last 10 sessions and the range is getting smaller and smaller creating a pennant.
What Is a Pennant?
- A pennant is a type of continuation pattern.
hi traders .,
1. deepak nitrite finally break the channel top also we can take it as bull flag.
2 . after 12 months consolidation period finally its broke
3 . in day wise its formed inverted h&s pattern
4 first target around 2400 & for long term target 3000
5 target period 15 - 20 days for 2400 (swing trade )
4 Years #Multiyear #Breakout in #POWERMECH (Power Mech Projects Ltd). Its #Outperformed #Nifty.
What Is a Bullish Flag?
Bullish flag formations are found in stocks with strong uptrends and are considered good continuation patterns. They are called bull flags because the pattern resembles a flag on a pole. The pole is the result of a vertical rise in a stock and...