@kandaswamyp, I did not get what is meant by "pictoral representation" other than that i have already drawn here. As far as option data is considered, the stock is stuck in range bound so that further movement comes in only after the consolidation is complete. This triangle may turn into parallel channel pattern if the consolidation continues. But for breakout we only needs a positive news or weaker hands are entirely eliminated in the process of consolidation. So we better wait for the breakdown or breakout (with volumes) of the triangle or channel(which my form) for entry.