Double Bottom breakout on Amarajabat - weekly charts

Double Bottom breakout is visible in amarajabat stock - weekly timeframe. Normally such patterns at higher time frames hold a lot of value. The second bottom respected the first bottom which gives more conviction. The whole price action is supported by the announcement made by the management of Amara Raja Batteries of capex into Lithium Ion batteries which are used in electric cars/ scooters. This change in strategy will ensure that Amarajabat sustains in the game of Auto Industries.


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