Flag Pattern breakout in AMARAJABATBefore taking any trade I always analyze the trend, price, volume, and how the relative strength is performing compared to other stocks in that sector.
Here are a few observations that we can make from the AMARAJABAT chart:
Flag Pattern upside breakout(bullish)
The stock broke a long trend line and consolidated for a month.
It has given a range breakout with 2x avg volume.
The stock has been retraced and weak hands have been removed.
The stock Relative strength is trending towards highs.
Entry - 540
Stoploss - 497
Target 1 - 575
Target 2 - 640
I hope this helps more in your stock analysis.
Thank you
Saurabh
