GAIL
– Steep pole formed on 24 Apr 2017
– Followed by rectangular movement, no drift down
– Breakout on Apr 25 – crosses the high of the flag
– Take long position at 412.4 (Apr 25)
– Stop loss = low of flag = 389.2
– Target = 435.5 (not achieved)
Here the sideways move (4 – 7 days) is not enough to qualify the flag shape..