MRF BULL FLAG BREAKOUT

After a decent run from 52000-70500 levels now MRF finally given the breakout.

Learning – What is Bull Flag Pattern? – How to Calculate Targets?

(Bull Flag Pattern is made when a nice linear uptrend happened in a stock and for very short term it gave the pause to the trend where Price take a breath and again started running in the continuation of the Trend & Calculation of the Target will be calculated from the start of the linear Bull run till the High of the trend which makes a “POLE” and then Pause of the trend makes a “FLAG”. Once the breakout happened (Volume should support the Breakout) Flag Distance from the start to the high will be added to the Breakout zone for the Possible upside Target)

Pole Height is 18500 Points and breakout level is around 67000. So, Here Expected Target will be 85000-85500.

Happy Investing !

MRF Daily Chart
Disclaimer

I'm not a SEBI Registered Investment Advisor. Above Views are only for Educational Purpose. Equity, Commodity & Currency Trading has large potential rewards, but also Large Potential Risk. You must be aware of the risk and willing to accept them in order to invest in the markets. Don't trade with the money you can't afford to lose. This page is neither a solicitation nor an offer to acquire/sell any script. Please consult your financial advisor to take appropriate investments as per your risk profile. The past performance of any investments is not an indication for future returns.

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