1. In the day chart we are witnessing that the TASI index has formed a head and shoulder pattern from April 2023 – September 2023 and a neckline breakout marks the end of the H&S pattern. A downside breakout is obvious after the Head and Shoulder pattern completion.

2. At the end of H&S pattern we noticed a big red candle closed at 50% into the body of the previous green candle. This is a trend reversal sign known as Dark Cloud candlesticks.

3. Since the August 2023 a sharp down trend consist with mostly the red candles. It signifies strong bearish momentum. Tasi had fallen from 11933 to 10262, nearly 1670 points correction was seen.

4. We noticed the bullish flag pattern started formation since mid Nov 2023, where two parallel trendlines preceded by a flag pole which clearly indicates strong bull’s presence in the index.

5. Dec 2023 onwards TASI started moving straight upward after flag pattern breakout and again forming a bullish flag pattern. Such back to back flag pattern breakouts give prominent indication of long bullish run to be continue.

Happy Trading!
Cheers to the bull run!