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bullish Flag pattern
stock name: Idea Cellular limited
The conditions are,
1. A steeper Pole – identified – refer the attached chart
2. Rectangular shaped side movement – identified – refer the chart
3. takes less time to form – satisfied – it took about 10 days to form the flag
4. Positive pole flag should give positive break out
5. Volume is expected to increase while breakout – satisfied – refer the attached chart
| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| 8 | 9 | 10 | 11 | 12 | 13 | 14 |
| 15 | 16 | 17 | 18 | 19 | 20 | 21 |
| 22 | 23 | 24 | 25 | 26 | 27 | 28 |
| 29 | 30 | |||||
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SIR THE FLAG FORMED IS NOT HORIZONTAL.