India, May 11 -- This pattern suggests that buying momentum is weakening while selling pressure is gradually increasing, indicating a potential continuation of the bearish trend. The inverted flag, also called a bear flag, is a bearish chart pattern where the price falls sharply, then moves slightly upward for a short period before continuing its downward trend after a breakdown.

On Friday, ITC Limited broke the support line in the 1-day chart and ended the session at Rs 307.45. And the previous support level at Rs 308.40 now acts as a resistance zone. With any increase in selling volumes, the price may move further downward; a move above this level weakens the bearish outlook.

In an inverted flag & pole pattern, traders typically targe...