We have a dual setup here in Amaraja, you can either go on higher timeframe to find Double bottom entry, or the channel breakout entry on pullback and aim for trade continuation of Double bottom targets. You can do it either way but what matters is whether your plan allows you to take that kind of risk.
If those swings happen as predicted we will be having a...
Go long if the setup forms successfully.
Great targets and Risk/Reward.
Plus, fundamentally strong company, aggressive expansion, good monsoon forecast will also benefit leading to the formation this setup.
Well, atleast I believe so. Probably the retest of trendline around 9430's to 9450's zone then Nifty will move down further to 9350's zone, but may happen today or 2mrw . Moreover, I'm expecting that double bottom to be failure one, bcos of bearish sentiment... chill..chill...relax.. Bearish sentiment on very short timeframe. We can wait for further push up by...
The pattern is simple and clear so doesn't require much details. After breakout it is retesting from the above which could be an opportunity to go long with small stop loss. It has also broken the down sloping trendline.channel and trading above it convincingly another confirmation for a trend reversal. One can look a target of 357 - 370.
The stock has given classical double bottom breakout that too with divergence. The simple pattern offers a long trade in stock by providing suitable stop loss. Prices can easily climb to 5300 in coming days.
Well Infy has now made a double bottom on the weekly charts with lower lows on RSI and MACD-H.
On the daily Chart also it has given a BUllish Divergence. So guys Load Up on Longs ONce 950 crosses 980-1000 will come in no time..I expect good move in Infy tomorrow and the coming week.
After Nifty and Titan completing successful double bottom's as per my earlier post's , it seems to be Heidelberg Cement's turn to follow suit.
Perfect double bottom pattern formation although still not confirmed on closing basis. It made a high above the peak of 123.45 . RSI & MACD both showing postive divergence on daily charts make this stock to be put on radar...
Since Nifty has formed a double bottom and trading above it we can conclude that downfall has been arrested and it is in the mood of going up. Point is where is the next entry for long? I would watch the area around 8240 - 8260 for price action at that level.
confirmed Double bottom formation as it broke above 8274 levels on Intraday basis. . It is currently facing resistance at 8290 levels which is the downward trendline resistance. A close above 8300 would be a positive sign for the Index
Also note , MACD histogram and RSI indicators are showing postive divergence which is a Bullish sign.
Any break above 8300...
As we see Titan confirmed Double Bottom pattern by closing above 325 level. Also there is positive divergence in RSI & MACD histogram indicators at the two bottom levels namely at 303 & 308 confirming the reversal of downtrend. On balance volume also rising. It achieved target price of 350 levels as per double bottom pattern calculation. Next Target price is 375 ....
ITC has formed double bottom .
Bottom 1 : 222 @ 24-Nov-2016. Bottom 2 : 222 @ 26-Dec-2016.
Go long with a stop loss of 215 and a traget of 257.
Expected timeline for traget : 13-jan-2017 to 16-jan-2017.