ITC Down pole flag bearish below 336 SL355 Target 315

[V.VEDANAYAGAM]

ITC Ltd formed DOWN POLE FLAG pattern during MAY14 with good volume at the pole and breaking point Volume was low at the flag part
TRADE PLAN ITC Ltd SHORT ENTRY 336
STOP LOSS 355 (RISK 19 )
TARGET 315 (REWARD 21 )

[EQSIS]

Sir, As per the attached chart, Flag witnessed significant recovery from bottom.

Flag Cloth should be rectangular shaped, so we can derive the lack of pressure from counter part

Kindly Refer this Link for the Shape of Flag

http://www.eqsis.com/pro/forums/topic/flag-pattern/

http://www.eqsis.com/pro/forums/topic/asianpaint-bullishabove-704-sl-675/

[V.VEDANAYAGAM]

DEAR SIR Yes i have seen the charts in the link and noted the mistake done by me

[Author]

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