Bull Flag Pattern

The bull flag pattern is probably the most bullish chart pattern you can trade.  As the name suggests, it looks like a flag pole with a flag on the top portion of the pole. 

To form the pattern, the price rises substantially in a short period of time and then consolidates for generally a few days to a few weeks to form the flag portion of the chart pattern.

A true bull flag pattern often leads to a secondary move of similar magnitude.  The price often rises 15% to 50% or more in a short period of time IF the price breaks out of the top of the pattern.

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Sensex soars to life-time high, Nifty above 10600

Sensex soars to life-time high, Nifty above 10,600:  The BSE Sensex soared to life-time high of 34,331.85 and the NSE Nifty crossed the 10,600 level for the first time in early trade today on strong gains in pharma, IT and banking stocks amid optimism over quarterly earnings by corporates. Asian markets trading with gains after more records on Wall Street influenced the trading sentiment here. The 30-share Sensex soared by 178 points, or 0.52 per cent, to 34,331.85 points, breaching its previous record high (intra-day) of 34,188.85 hit on January 5. The gauge had gained 360.47 points in the previous two sessions. All the sectoral indices, led by realty, healthcare and infrastructure were trading in the positive zone, rising up to 1.52 per cent Major gainers that helped both the key indices to scale new highs were Sun Pharma, 

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Buy VEDL above 332.50 with strict Stoploss Below 329 for Intraday Target 335 and 340, for Best Stock Tips do visit http://www.aceinvestmentadvisory.com/

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TECHM closed on 02.01.2018 at 513.95. Buy TECHM on 03.01.2018 above 513.95 with strict Stoploss below 507 fot intraday Target 517 and 522.

Disclaimer: These Recommendations are based on technical analysis and Personal observations. Due care has been taken while preparing these comments, no responsibility will be assumed by the author for the consequences what so ever, resulting out of acting on these recommendations.

Disclosure: Neither the author nor his company either trade or have positions in any of the stocks mentioned in this column.

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