Is this Barish Flag pattern? What move of nifty 50 on 4th may ?
A bear flag is a technical pattern that provides an extension/continuation to an existing downward trend. The bear flag formation is underlined from an initial strong directional move down, followed by a consolidation channel in an upwards direction (see image below). The strong move down is known as the ‘flagpole’ whilst the consolidation is referred to as the ‘flag’ itself.
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