Double Bottom
Nahar Spinning looks Good.Pattern: Double Bottom pattern
The Double Bottom pattern emerges within a downtrend when the price hits two separate lows at approximately the same level. During the formation of this pattern, the volume tends to indicate a decrease in downward momentum, diminishing as the pattern develops, with a slight increase in volume at each low, typically less on the second low. Eventually, the price breaks above the highest point between the two lows, confirming a bullish signal.
PLEASE NOTE THAT:
INFIBEAM - 5 years Consolidation BreakoutINFIBEAM
1) Time Frame - Monthly.
2) The Stock has been in a consolidation zone / Downtrend since 2018 and has given a breakout & Closed with strong bullish momentum & Huge volume in monthly time frame.
3) INFIBEAM may reach its previous Life Time High (50.50) in the Long Term.
4) Recommendation - Strong Buy
BRNL / Bharat Road Network - Pre Covid High / Consolidation B/OBRNL
1) Time Frame - Monthly.
2) The Stock has been consolidating since January, 2020 and has given a pre covid high breakout & Closed with strong bullish momentum & Huge volume in monthly time frame.
3) BRNL may reach its previous Life Time High in the Long Term.
4) Recommendation - Strong Buy
29 Jan ’24 — All 6 Green Candles, Nifty Stance UpgradedNifty Analysis - Stance Bullish ⬆️
Recap from yesterday: “Yesterday’s W pattern is no longer valid as today’s action has nullified it. Our stance continues to be neutral with a slight inclination to the bearish side. It seems like FIIs are not done unwinding their positions — the run-up to the Budget 2024 looks interesting.”
4mts chart
Two major things stand out today
Nifty gets a small gap-up, but most gains came via trading - which shows how the control went to the Bulls.
Zero pullback - o
Munjal Showa Ltd - Double Bottom Breakout in weekly time frameMUNJALSHOW
1) Time Frame - Weekly.
2) Long Term downtrend breakout happened on June, 2023 and the stock has been consolidating since june 2023 & gave a double bottom pattern breakout with strong bullish candle & good volume.
3) The next target would be its life time high in the long term (313 - 63%).
4) Recommendation - Strong Buy
APEX FROZEN FOODS:10DEMA CROSSOVERAPEX FROZEN FOODS :Has formed a nice double bottom pattern. 10DEMA Crossover above 20DEMA,50 DEMAa possible move towards in weekly chart suggests a move towards 290-300 upon sustaining about its neckline breakout levels of 270
For educational purpose only.
Your likes and feedback would motivate me to post more views.
Happy Trading
swing trade for yearCertainly, let's replace the currency symbol with Indian Rupees (INR) in the analysis:
### Technical Analysis:
#### 1. W Pattern - Double Bottom:
The W pattern is a bullish reversal pattern that resembles the letter "W" and signifies a potential reversal of a downtrend. The double bottom within the W pattern is a positive indicator.
#### 2. Breakout of Neckline:
The breakout of the neckline is a crucial confirmation of the W pattern. It suggests that buying interest has intensified, and
HINDALCO : Cup and Handle BreakoutA cup & handle Breakout in conjunction with Triangle Pattern Breakout
Retest is pending for the triangle pattern breakout.
Hindalco is moving based on the support line support for long.
Waiting for a retest to enter with SL below
closing of the support TL
One can enter now as well with 50 % qty just not to miss the trend for targets of 510/550/630.
DISC: Only for educational purposes. please consult your financial advisor before entering.
HDFCLIFE | GOOD BUY CANDIDATEHDFCLife formed a double bottom and created a bullish engulfing candle on daily time frame on 4th Jan. The stock is trading near demand zone and if holds these levels, we expect to see a good upside.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
Deepak nitrite; min 20% return; TrendlineRefer our old idea attached below.
.
Midcap stocks are going to boom.
long term investment; min 40% return.
huge potential is there.
investment ;
Wait for retracement.
if you are interested in investment, go for it with small risk,
.
.
. more than that " Deepak Nitrite " is fundamentally good.
.
Don't make complicated trade set-up.📈📉
Keep it " simple, focus on consistency " 💹
Refer our old ideas for accuracy rate🧑💻
Valuable comments are welcomed-✌️
.
refer over old posted idea attached below
Bajaj FinanceThe stock is slowly gaining positive momentum on the daily & Weekly charts. It has formed the double bottom on daily charts. RSI is in bullish trend on daily and weekly charts. On moving average front 20 DEMA has crossover 100 DEMA. One can made trade at CMP with SL 7200 and Target 8000.
Ready for breakout - EID ParryEID Parry has made double bottom after about a year of consolidation. Now it is ready to give a breakout which will break its lower-high pattern and give a boost for new highs.
Stock has seen good volumes during past a few weeks, giving confidence for a breakout soon.
CMP: 565
Breakout level : Today's high (579)
SL: 560
Targets : 540 / 700
Disclaimer: I'm not a registered analyst. I'm just sharing my opinion on the platform for others to benefit in learning from my market understanding. Plea
WIPRO Ltd., 20% ROI, Right time to invest.Right time to invest.
fundamentally good.
.
Entry:425
target:435 / 459 / 531
stoploss: 415
major stoploss/ support: 399
.
.
Enter conservatively after "425"
.
IT stocks are going to boom.
long term investment; min 20% return.
huge potential is there.
Long term holding ;
if you are interested in invest NOW, go for it with small risk,
.
.
.
. more than that "WIPRO". , is fundamentally good.
.
.
.refer our old idea attached below
bullish as trendline +support breakoutlong term horizontal support zone with double bottom
trendline break on chart
after trendline break accumulation start by a pattern of bull flag with volatile contraction
may be an entry point by 25% then pyramiding upto top resistance zone or more (decide at that time)























