Flag formation is a steep pole with an attached rectangle and again a steep movement in the same direction of the pole. For bearish pattern, we have an inverted flag, in which the pole steeps downwards and forms a small rectangle and again steeps downwards. Height of the rectangle should be measured. The place where the rectangle ends and starts steeping again is the breakout. Entry should be on or above the breakout. Target is entry – height of the rectangle. Stop loss is entry + ht of the rectangle.
DABUR GETS ‘FLAG’GED
