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.


  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.

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