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Flag like pattern

91
LTI has had a big move up and now consolidating forming what appears to be a flag - why do i say "appears" - because flags have folds which have a sag at the folds, causing the prices to drift down on decreasing volumes - here the fold of the flag has formed a box like channel - which is not a true flag, but if it manages to break out of it, it can reach the marked levels( targets).
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it has broken out of the upper channel ( fold of flag) - it went up to 4600. keep watching. Today was earnings release
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From 4184 to 4689...that is a good move...and still has fire...today up 6.4%
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Target achieved.
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Like i said it still has fire....CMP 5053..anyone who thought long term would have made good money...when i posted it ( June 24) it was at 4184...869 Rs...even if you had bought 20 shares only at 4184....it would have become 17K+ today
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It does not seem to stop...CMP 6231 right now
Panchalk
Chart Patterns

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Chart Patterns
Panchalk

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.