Update: Flag and Pole in Rcom - 18th Sep 09

Flag and Pole in Rcom, posted earlier. Moving stop loss to 305.9 for next 25% of long holdings.

Update: Flag and Pole in Rcom - 17th Sep 09

Possible Flag and Pole in Rcom, posted earlier. Reached its first target of 317. booked out 50% and moving stop loss to 293 for remaining holdings.

Possible Flag and Pole in Rcom - 15th Sep 09

Rcom Chart - Hourly:

Rcom is consolidating with low volumes after reaching 317, and it is forming like a falling wedge. This wedge not yet fully developed. Which may act like a flag to the previous shooting up move with spiking volumes. If it gives break out with confirming volumes then the first target may be 317 and second target may be 365.

Update: Flag and pole in Rcom - 3rd Sep 09

Follow this previous post on Rcom. I have booked 75% at 290.25 and remaining 25% at 293 as mentioned, with an average profit of 4.65%

Rcom Chart - Hourly:

I think, I may be quick to book out profits early! On the retrospect view, zoom out to hourly charts, there is a nice Inverted Head and Shoulders pattern with a target of 297, which I missed to spot on time. Its shown in the above chart.

Rcom Chart - Daily:

A Symmetric Triangle can also be seen in daily charts, for which volumes are not supporting enough. But as we cross Inverted Head and Shoulders pattern target, we may revisit the strength and targets for this Symmetric Triangle as entry at this levels may increase the Risk/Reward.

Update: Flag and pole in Rcom - 2nd Sep 09

Update at 12:44 PM:

It is forming shooting stars, book out 75 % and trail with only 25%

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Rcom Chart - 5 mins:

It reached the target of flag and pole . Again it is consolidating with low volumes after the shooting up with volumes. So trail keeping the stop loss below the consolidation(Approx at 286) and hold till it reaches 293. Book partial profits accordingly in between.

Flag and pole in Rcom - 2nd Sep 09

Rcom Intraday Chart - 5 min:

Rcom formed a flag and pole in 5 min time frame, break out with confirming volumes may give Rs.10 (Trade only breakout). Use trailing stop loss if it gives breakout as nifty is looking weak.