BANKNIFTY (creating a (pole and flag ) setup on hourly chart

BANKNIFTY (creating a (pole and flag ) setup on hourly chart

so target is equal to pole
if break the flag on upside

so my view long if flag breaks upside
than target 47000 is possible in comming days

if you think this idea is use full
please like and share and follow
thank you for reading my idea
if found any related query allow me to answer

i am not a sebi registered analysist
this is just my observation for practice and learning purpose
of chart reading and try to understand the price action trading
thank you

Note

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daily Rsi setup
Rsi trading at 55.6

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Daily macd setup

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daily bollinger band setup

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BANKNIFTY daily simple moving average setup
SMA 20 > SMA 50
SMA 50 > SMA 100
SMA 100 > SMA 200

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gap up today

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200 point profit running for now

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850 point profit in two session only

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1200 point profit running for now

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1400 point profit running for now in bank nifty

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Bank Nifty highest weightage stock current performance

Hdfc Bank = Life High
Icici Bank = Life High
Axis Bank = Life High
State Bank = Life High

Kotak Bank = 12% Less from life high
Indusind bank = 31% Less from life high

sk_4587

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