NIFTY : FLAG & POLE
On closing of "8th Sept.'23' trading session...
Bullish Flag & Pole
1. Took 48 trading sessions to complete this pattern..
2. Now, expecting 7.21% up-move after Break-out
3. TGT to achieve in 48 Days after Break-Out (4th Sept.23)
i.e. in between 2nd OR 3rd week of November'23.
REASOND WHY THIS PATTERN IS BULLISH FLAG & POLE
Important Note : RSI TGT is far above, will discuss it once this pattern's TGT achieved.
Bullish Flag & Pole
1. Took 48 trading sessions to complete this pattern..
2. Now, expecting 7.21% up-move after Break-out
3. TGT to achieve in 48 Days after Break-Out (4th Sept.23)
i.e. in between 2nd OR 3rd week of November'23.
REASOND WHY THIS PATTERN IS BULLISH FLAG & POLE
- Trend between June to July was a sharp move in uptrend and after that it goes into consolidation phase.
- On 2nd September it give breakout of previous consolidation phase which confirms the breakout of "flag & pole" pattern.
- Volume - Firstly increases between June to July, Secondly during consolidation volume declines slightly and after breakout there is sharp increase in volumes.
- Now, the TGT for this pattern is mentioned in above para "3." point .
Important Note : RSI TGT is far above, will discuss it once this pattern's TGT achieved.
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