MANKIND -Flag and Pole -Daily - Breakout

23 сент.

**Mankind Pharma Ltd.** shows a clear **flag and pole pattern**, indicating a potential continuation of the uptrend. Here's a breakdown of the technical analysis:

### Key Observations:
1. **Flag and Pole Pattern**:
- The pattern consists of a sharp upward movement (the pole) followed by a consolidation phase (the flag), forming between parallel lines.
- The breakout above the flag pattern suggests a bullish continuation, with a price target typically equal to the length of the pole added to the breakout point.

2. **Target Price**:
- The length of the pole is measured at **660.85 points (34.81%)**, and applying this to the breakout level a target near **3,217 INR**, as marked on the chart.

3. **Volume Confirmation**:
- The breakout has been accompanied by an increase in volume, confirming the validity of the upward movement.
- Higher-than-average volume during breakouts adds credibility to the bullish scenario.

4. **Support Levels**:
- Near-term support lies at **2,559 INR**, followed by a stronger support zone around **2,372 INR** if there’s a pullback.

5. **Resistance Levels**:
- Immediate resistance is expected near **2,665 INR** (recent high), with the next target at the calculated level of **3,217 INR** based on the flag and pole projection.

### Conclusion:
This chart suggests a bullish outlook for **Mankind Pharma Ltd.**, with potential for further upside as the flag and pole pattern points to a target of around **3,217 INR**. Traders may want to watch for price action around current resistance levels and ensure volume continues to support the move.

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