BREAKOUT FROM FLAG PATTERN ON HOURLY CHAT

NIFTY HOURLY

As shown in the above chart NIFTY today gave breakout from consolidation/ flag pattern ( RANGE 5850-5900 ). So now looks like it will target 6000-6025 in coming 3-4 trading sessions. As usual for any trade, the stop loss for this trade is hourly close below 5854.7.

TARGET --- BREAKOUT LEVEL (5900) + HEIGHT OF FLAG POLE ( 100-125 ) = 6000-6025.

 HERE ARE THE LINKS FOR THOSE WHO ARE INTERESTED FOR READING MORE ABOUT FLAG PATTERN ----
http://www.trending123.com/patterns/bull_flag.html

http://www.investopedia.com/university/charts/charts6.asp#axzz2E9Pjkc3u

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