Bullish Flag
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ALong
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Target Update on Tata Steel BSLWhat seemed as a Bullish Pennant at first has now formed a proper bull flag pattern. Refer to previous analysis(Link given):
Target Update
Entry = Rs 96+
T1 = Rs 110
T2 = Rs 121
T3 = Rs 138
T4 = Rs 150+
NSE:TATASTLBSL
BSE:TATASTLBSL
TLong
Bullish Flag PatternFlag Pattern is one of the most popular chart patterns, formed by price action, which is contained within a small rectangle or a channel in the shape of a flag. Flags are short-term continuation patterns that mark a small consolidation before the previous move resumes.
A flag chart pattern is formed when the market consolidates in a narrow range after a sharp move. Usually a breakout from the flag is in the form of continuation of the prior trend. Flags give very relatively small risk and high
BULLISH FLAG PATTERN EXPLAINED.Bullish flags are a continuation pattern found in stocks with a strong uptrend. As can be observed, the pattern resembles a flag
on a pole. The vertical rise forms the pole and the following period of consolidation forms the flag. The flag can be a horizontal rectangle
but mostly angles down from the pole. The focus should be more on the underlying psychology of the pattern than the shape. Despite the
strong vertical rally, the stock refuses to drop much because the bulls are buying as many
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