NAHAR SPINNING MILLS LTD.Updated 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:
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:
- This chart analysis is only for reference purpose.
- This is not buying or selling recommendations.
- I am not SEBI registered.
- Please consult your financial advisor before taking any trade
Trade closed: target reached
EDUCATIONAL TARGET CLOSED!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.