![]() ![]() You can see on the chart when the quarter in ended Dec 17 formed, a huge green candle supported by increased volumes. Finally the stock broke out of the consolidation in Oct 17. The triangle went narrow during the quarter ended Sep 17. The base of this consolidation is around 260 and the top is around 500. Since the period is too long and the chart we are considering here is a quarterly chart, the low and high of the consolidation too is large. You can see below that the stock has formed a long triangle beginning in Jan 2007 and since then was trading in the consolidation till Sep 2017. Once we get this helicopter view, we understand what is happening and what can be expected in the times to come. ![]() They give a clear picture at a larger scale. I love using Monthly and quarterly charts. Below is the link of that post-įirst picture below is a Quarterly Candlestick chart. I had written a post during the breakout phase on Dec 27, 2016, in Reliance Industries. The earlier breakout was by Reliance Industries around a year back. Bharti Airtel is a second giant experiencing a similar breakout after a triangle consolidation for pretty long period.
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