Here you will have to consider the flagpole from 183 to the top made above 300 levels. And then if u see the retracement by the stock was much more than 61.8%.
Flag pattern is defined as a temporary halt in side a fast upmove. Flag usually occurs midway in a stock’s upmove. Retracement of the upmove in a flag ideally should be 50% or less and preferably around 38.2%. Here it is not so.
But overall the structure that is being witnessed is quite good bcos it has made a strong base around 220 odd levels and then gradually moved up after digesting negative views.
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