Tuesday, August 18, 2015

Text Book Flag formation in Chennai Express errrrr Chennai Petro

If breakout happen in lower side, then please wait till above 260 for a target of 260 + (240 - 180) = 320. Incidentally it happens to be April 2010 high. It should retest once shoot off the flag.

Flag formation is backed by huge volume on first few candels.

Note: This is only technical view, take your position as per your understanding of chart.
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6 comments:

  1. Flag formation still intact @239...do not breakdown decisively in downside.below 230 flag formation will be discontinue and this call will be deemed to be closed.

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  2. In two minutes 240 to 245, breakout provided....still flag breakout will be confirmed above 261

    ReplyDelete

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