DRREDDY | Straight Flag Pattern Formation | Don't miss it straight FLAG PATTERN it can break either way so be cautious before taking the trade and don't be caught yourself in fake breakout
DON'T forget to check out my previous idea on Drreddy , it worked really well on 4 hrs time frame
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Flag
How I got 10 points in BANDHANBNKBANDHANBNK was in my radar from last three days, since yellow trendline was tested by many times hence it became weaker. Today morning when price crossed pink line which was yesterday high, i entered into the trade 276.45 with SL 266 below the yellow trendline and keeping the momentum in my mind because of expiry day I took R:R 1:1. and booked my profit at 286.25
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Big Fall expected on NIFTY before ending next week.If you try to look carefully, you will know that.
1. Flag patterns
2. Overlapping and Result of it
Thought we are going to focus today only a few points, the Red Flag pattern is predicted and there is not overlapping still. From both these, concluded that we are going to see a big fall soon. I am till not confirm.
Bearish Flag Formation observed! (Both hourly and daily chart)A bearish flag formation is seen, will the upcoming elections and budget uncertainity lead to a downside breakout.
If it does it will lead to a downfall of around 700 points from the breakout.
This can be a good short for risky traders.
PS: Constructive criticism and opinions are appreciated.
Thank you!






















