Stock name: Safari Industries (India) Ltd.
Pattern: Flag and pole pattern
Time frame: Daily
Observation:
The stock experienced a sharp rise in August 2024, followed by a consolidation phase, forming a flag and pole pattern on the daily chart. On August 30, 2024, it broke out of this pattern with significant trading volume and sustained the breakout the following day. If the stock maintains this momentum, it may continue to move higher according to technical analysis. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.
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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
Stock name: Whirlpool of India Ltd.
Pattern: Flag and pole pattern
Time frame: Daily
Observation:
On the daily chart, the stock experienced a sharp rise from June 5 to June 27, 2024, followed by consolidation until August 29, 2024, forming a flag and pole pattern. The stock broke out of this pattern on August 29 with significant trading volume and has since sustained its breakout levels, moving upwards. If the momentum continues, the stock may climb higher according to technical analysis. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.
You may add this to your watch list to understand further price action.
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
