Flag Pattern breakout in AMARAJABAT

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Before taking any trade I always analyze the trend, price, volume, and how the relative strength is performing compared to other stocks in that sector.

Here are a few observations that we can make from the AMARAJABAT chart:

• Flag Pattern upside breakout(bullish)
  
• The stock broke a long trend line and consolidated for a month.
  
• It has given a range breakout with 2x avg volume.
  
• The stock has been retraced and weak hands have been removed.
  
• The stock Relative strength is trending towards highs.
  

Entry - 540
Stoploss - 497
Target 1 - 575
Target 2 - 640

I hope this helps more in your stock analysis.

Thank you
Saurabh

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