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Finolex Cables - Modified Up-Flag Breakout on Daily ChartThe daily chart of Finolex Cables shows the price breakout on the modified up-flag price pattern yesterday on 23/02/2023. The price gave the breakout after a consolidation of 5 daily candles. This consolidation was preceded by rally. The price target is estimated at INR 828 and the R/R Ratio is 4.
Note: This is purely academic study and does not intend to give any recommendation for investment purpose.
grt chartgrt chart
According to the price action, bulls are in control of the trend and forming a bullish chart pattern. Investors can buy the token now since it has entered a short-term uptrend. It remains to be seen whether the bulls can continue their momentum and hit new highs.ccording to the price action, bulls are in control of the trend and forming a bullish chart pattern. Investors can buy the token now since it has entered a short-term uptrend. It remains to be seen whether the bulls can continue their momentum and hit new highs.
Bullish signs on the chartThe stock has given an inverted head and shoulder pattern breakout and now testing it's 2 year old trendline.
On weekly chart it's making a flag pattern.
If it gives a breakout and sustains we can expect a good upmove here.
Buy above 347 level (carry on day closing basis) for positional targets of 361, 374 and 395.
Learn & earn,
Dr. Tanya Kumar