December 15, 2010

FLAG of Sesa Goa Ltd

WEEKLY CHART
DAILY CHART
  • Sesa Goa weekly chart is showing a flag pattern.
  • This is a bullish continuation pattern but the daily chart is looking weak. Price is trading below 50 DMA. 
  • So for now a move towards 50 DMA can be expected.
  • Big breakout can happen only if the stock breaks above 50 DMA and the resisting trend line.
  • Breaking below the weekly support line will be negative.

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