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Dear Kushi,
Your analysis on Flag pattern is perfectly right, except the Stop loss level you have identified.
You have identified the stop loss at the bottom of the pole. It need not to be there. Instead, we can take the stop loss, at bottom of the rectangular shape. As per the chart, the bottom level of the rectangular shape is Rs.168. This reduces our risk level also.
In your trade plan, the risk is more than the reward, as your entering at 180, target is 204 and with a SL of 145. Here the risk is 1.45 times greater than the reward, which is not a good.
Kindly request you to check with Murugan sir and correct me if I am wrong.
Dear sir/ madam, the above mentioned pattern does not qualify one of the flag condition – flag should not drift lower. Kindly review it.
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