Flagpole Pattern : DMART (Avenue Supermarts)NSE:DMART
DMART is forming one of the common Technical patterns in its Chart on a daily time frame.
The technical pattern here we are talking about is Flagpole.
A Flagpole is formed by strong movement in one direction creating the pole of the flag and a pennant shape by converging trendline causing the Flagpole structure complete.
This is a continuation pattern that indicates the price can continue in the same direction.
The Flagpole can occur either in falling or rising markets.
The volume spurts during the pole and consolidates during pennant structure and again raises if the breakout occurs.
