NSE:TATACONSUM CHART PATTERN ANALYSIS

🔍 Chart Pattern Analysis:
Pattern Identified: Bullish Flag
Pole: The sharp move up from March to early May.

Flag: The downward-sloping parallel channel (purple lines) forming from mid-May to late June.

Breakout Zone: Price has approached the upper boundary of the flag, suggesting a potential breakout.

📊 Volume Analysis:
Volume increased during the flagpole (strong buying).

Volume decreased during consolidation in the flag (healthy sign for a flag pattern).

A volume spike during breakout (not yet seen) would confirm bullish momentum.

📈 Price Projection:
Based on the flagpole height:

Pole height: Approx. ₹1060 to ₹1245 = ₹185

Breakout level: Around ₹1150

Target: ₹1150 + ₹185 = ₹1335

Your chart already shows a projected upward move towards the ₹1,350–₹1,400 region, aligning with this measured move.

✅ Bullish Confirmation Signals:
Price nearing breakout above the flag.

Strong trend from earlier (bullish continuation expected).

Breakout may lead to quick momentum-driven gains.

⚠️ Risks & Invalidations:
Breakdown below flag support (~₹1,080) invalidates the pattern.

Bearish candle near breakout zone without volume can indicate a fakeout.

Broader market weakness may weigh on follow-through.

📝 Conclusion:
This is a bullish continuation pattern (flag).

A breakout above ₹1,160 with volume confirms an upward target of ₹1,330–1,400.

Ideal entry: On breakout with volume.

Stop-loss: Below ₹1,080 (flag low).

Let me know if you’d like a Pine Script for this pattern or volume-based alerts for breakout confirmation.