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CA Omkar Bhutada - SEBI Reg IA

18th Oct · SEBI-Registered Analyst

Textbook bullish continuation pattern

DATAPATTNS
🧭 Chart Summary Timeframe: Monthly Pattern: Bullish Rectangle / Flag Base Current Price: ~₹2,806 Zone: Consolidating within ₹2,500–₹3,200 🧩 Structure Explanation Prior Move (Flagpole): The stock rallied sharply from ~₹1,400 (March 2025) to ~₹3,200 (May 2025). That’s a >120% rally — strong impulsive leg showing clear institutional participation. Current Phase (Flag / Rectangle): Post rally, price entered a sideways range between ₹2,500–₹3,200, visible as the shaded blue zone. Volume and volatility have contracted — a healthy consolidation pattern. Candlestick Behavior: The last 4–5 months show tight monthly ranges. Wick rejections near ₹2,500 indicate demand absorption. Every dip is getting bought — suggests strong base building.

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