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Flag pattetn

Discussion in 'Technical Analysis' started by jazeelfarooq, Dec 4, 2020.

  1. jazeelfarooq

    jazeelfarooq Active Member

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    Hi Shabbir
    Kotak mahindra daily chart seems formed flag pattern recently

    My question : first pole and flag is visible but second pole formed 4 candles

    Second pole necessary by one candle.. your book example shows only second pole one candle

    WhatsApp Image 2020-12-04 at 6.32.26 PM.jpeg
     
    Last edited by a moderator: Dec 5, 2020
    jazeelfarooq, Dec 4, 2020
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  2. shabbir

    shabbir Administrator Staff Member

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    Can you attach the chart you are seeing as that will help analyze the pattern better for me.
     
    shabbir, Dec 5, 2020
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  3. shabbir

    shabbir Administrator Staff Member

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    I don't see that as flag. Things aren't clear what is the price nor the date of those. Also is it daily or weekly chart but what I can see is one big candle and then consolidation and breakout.

    I see this more as higher top higher bottom pattern.
     
    shabbir, Dec 5, 2020
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  4. jazeelfarooq

    jazeelfarooq Active Member

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    Sorry for not mentioning clearly.. next time I will take care..
    Daily chart and date 3 Nov 20
    Fist pole and flag visible (marked area) 9DBC4C74-9936-4994-879E-371DA0C4C1BD.png but second pole not visible however if we consider 4 candle together as pole may be then possible as flag pattern
     
    jazeelfarooq, Dec 5, 2020
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  5. shabbir

    shabbir Administrator Staff Member

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    Yes you can visualize it that way as well. There is nothing wrong in seeing it as flag and pole. However, if you see a little bit more of the daily chart, you will see it is a rounding bottom formation or a cup and handle formation and the 27th Oct candle that you see is a breakout above the start of the rounding bottom that started from 31st Aug.
    KOTAKBANK_Daily_06-12-2020.png

    So after the breakout, there is a handle of the cup.
     
    shabbir, Dec 6, 2020
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  6. jazeelfarooq

    jazeelfarooq Active Member

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    Ok. Sir. My eyes could see only flag pattern however you pointed out cup and handle and rounding bottom pattern. Great. Thank you.

    Further now I could see a inverted head and shoulder pattern too.. please see marked area in daily chart
    upload_2020-12-6_17-13-31.png
     
    jazeelfarooq, Dec 6, 2020
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  7. shabbir

    shabbir Administrator Staff Member

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    One can see multiple patterns forming for sure. There is nothing wrong in it.
     
    shabbir, Dec 6, 2020
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  8. 1sreerajvs

    1sreerajvs Member

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    I think Amara will make a flag soon
     

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    1sreerajvs, Dec 12, 2020
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  9. shabbir

    shabbir Administrator Staff Member

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    Yes. Above 960 it will be start of the second pole for sure.

    860 to 960 first pole. Then a Flag and 920 to 1020 seems like a second pole is in the making but can also start from 940 as well.
     
    shabbir, Dec 13, 2020
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