a consolidation phase (flag)

🟢 Trend:
Primary Trend: Strong uptrend since mid-2023.

Price is making higher highs and higher lows with strong bullish candles.

Weekly close at ₹1,913, near its all-time high zone.

🔷 Chart Pattern:
Bullish Flag / Range Breakout Formation:

After a strong rally from ₹1,300 to ₹1,900, price entered a consolidation phase (flag).

The current weekly candle has broken out of this narrow range near ₹1,870–₹1,890, signaling a continuation breakout.

🔼 Breakout Level:
Breakout Resistance Zone: ₹1,870–₹1,890

Current price: ₹1,913 → Confirmed breakout with strong bullish candle.

📊 Volume Analysis:
Volume has increased significantly during the breakout candle, showing strong institutional interest.

Previous resistance zones also showed high volume spikes, validating demand zones.

🎯 Target (Based on Flagpole Projection):
Pole height: ₹1,900 - ₹1,300 = ₹600

Breakout level: ₹1,880

Target = ₹1,880 + ₹600 = ₹2,480

🛑 Stop Loss:
Ideal stop loss just below breakout base:
₹1,750 (Weekly close basis)

📌 Summary:
Parameter Value
Trend Strong Bullish
Pattern Flag / Range Breakout
Breakout Level ₹1,880–₹1,890
CMP ₹1,913
Target ₹2,400–₹2,480
Stop Loss ₹1,750 (weekly close)
Volume Strong and rising