Recognise has detected a "Flag (Bullish)" chart pattern formed on India bulls Real Estate Ltd NSE.
This bullish signal indicates that the stock price may rise from the close of 116.7 to the range of 147.00-153.00. The pattern formed over 11 days which is roughly the period of time in which target price range may be achieved, according to standard principal of technical analysis.
The price seems to be resuming a sharp rally after taking the brief pause. A bullish Flag pattern occurs during a dynamic market rally , representing a brief pause as the market "catches its bearish" before running off again in the same direction. The pattern consist of two parallel trand lines, often sloping downward against the prevailing uptrend, and is confirmed when the price break though the upper boundary to resume the rise.
This bullish pattern can be seen on the following chart.
This bullish signal indicates that the stock price may rise from the close of 116.7 to the range of 147.00-153.00. The pattern formed over 11 days which is roughly the period of time in which target price range may be achieved, according to standard principal of technical analysis.
The price seems to be resuming a sharp rally after taking the brief pause. A bullish Flag pattern occurs during a dynamic market rally , representing a brief pause as the market "catches its bearish" before running off again in the same direction. The pattern consist of two parallel trand lines, often sloping downward against the prevailing uptrend, and is confirmed when the price break though the upper boundary to resume the rise.
This bullish pattern can be seen on the following chart.
