Flag pattern is witnessing in Cadila Healthcare Limited on 15 May 2020. Eventhough market wittnessed bearish due to Corana, this script pattern is different which suggest bullish trend. Entry price has to be flag patter has broken. Accordingly, entry price should be Rs. 336. Stop loss has to be lower end of the flag ie., Rs. 32o. We can fixed the target conservatively equal to the difference (336 less 320 is 16 added to entry price) Rs. 352 or agressively we can considered height of pole has difference (Rs336 less 270 is Rs.66 added to Rs.336) added to entry price, accordingly target price is Rs 402
Entry price : Rs.336 Stop Loss: Rs.320 Target: Rs. 402
Hi sir,
Thanks for sharing your analysis, keep learning….