Double bottom on daily chart
charts seems to formed double bottom on daily chart.
Likely to breakout and could touch 370 in coming days.
Positive cues : growth in rural premium product(comment from managements) , Inflation has been soften and Holidays are upcoming so its positive for hotel business of ITC as well.
for Positional view :
Target : 346.9/350.35/354.80/368
SL : 336.5
Duration : 1-2 weeks.
Double Bottom
SIEMENS INDIA||09-12-2022||SWING AND SHORT TERMI AM NOT SEBI registered advisor please consult financial advisor for your investment.
This is only for educational purpose you can also share your thoughts on the comments
\\Representation:
**Green dashed line--Supportive line
**Red dashed line--Resistance line
**Black up and down arrow--touches of support line
**cmp:2980
In this chart, I can see good DOUBLE BOTTOM pattern
The Resistance Line was breached with very good candle
keep following We will grow like healthy society.
NIFTY IT - Recovery started with Double Bottom Breakout ConfirmKey highlights: 💡⚡
On basis of Weekly Time Frame
📊 Currently NIFTYIT has given Double Bottom Breakout with confirmation.
📊 Keep an eye on IT sector's scripts.
📊 Example : LTTS , COFORGE , TECHM
1st Target - 32816
2nd Target - 34381
Support - 30559
⚠️ Important: Always maintain your Risk & Reward Ratio.
⚠️ Purely technical based pick.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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Dot long - double bottom on breakoutDot coin is creating a double bottom pattern which is about to breakout on upside.It is reteting on a lower level now.It could retest from the neckline another time and then will make a long move.RSI is also making a bull divergence.After retesting a long trade can be initiated of 1:2 R:R .Entry and exit level are as shown as the image.Check it out.
Double bottom : TV18NSE:TV18BRDCST has made double bottom and is near its breakout. Buy must be initiated only after the breakout,
Double bottom support seems could reverse
It's has posted not so great quarterly result due to raw cost increase, so the sharp downside movement in stock was noticed.
It has been in news past few days for the 20 year long term deal with other listed Fertiliser Company.
Inflation seems to be peak and ready to bites the dust for the moment.
Having said that, Positional View on the stock would be Long with Target 700/720/750 in coming days.
Keep the SL : 641
Duration upto 15 days.
CEAT LTDCEAT LTD:- double bottom pattern breakout. keep on radar.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
LARSON & TOUBRO INFOTECH MID TERM SWING #LTI given double bottom break out on weekly time frame and also making harmonic bat pattern. buy when it give retest.
Buy around 5000
TGT : 5550, 6100
SL : 4850 DCB
Disclaimer :
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
MINDTREE LIMITED MID TERM TO LONG TERM SWING#MINDTREE LTD Falling wedge pattern breakout & Double bottom pattern breakout on weekly time frame and also posted good quarterly results, good fundamental stock. wait for retest and good entry level.
Buy around 3575 to 3630
1st tgt : 4000
2nd tgt : 4480
3rd tgt : 5000.
Stoploss 3470 on day closing basis.
Disclaimer :
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
RELIANCE - Available @ great Risk : Reward (Swing Trade)The analysis is done on daily TF hence price may take days to a few weeks in order to reach the targets.
Trade setup is explained in image itself.
At this position, one can get great Risk : Reward as the SL is quite low as compared to Targets.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
DOUBLE TOP TUTORIALEducation
Double Top chart pattern
A double top chart is a classic bullish reversal, which signals end for bullish rally.
This chart pattern help traders to exist their trades if they go long on certain instrument and get prepared for selling opportunities after the break of neckline.
This chart pattern should only be considered when there's existed bullish rally on a timeframe.
And sell trades should strictly be taken only after the break of neckline.
Traders can target next demand zones and stop loss above neckline or previous resistance.