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Double Bottom

Understanding Cup and Handle pattern with ONGC1. Cup and handle pattern was defined by William J. O'Neil in 1988 2. It is considered as a bullish pattern continuation pattern 3. In cup and handle pattern, volume of the security should decrease as price declines and remain lower than the average at the base of the cup 4. The volume should pick up when the price of the security moves higher 5. Target is usually calculated as the price difference between the bottom of the cup and the resistance(depth of the cup) 6. The handle of the cup is usually a consolidation phase that is used to accumulate the stock Let's not forget to thank ONGC for being a perfect example of Cup and handle pattern. Hope you learnt something new. Please post in the comments if you have any queries and give a like if you found the post useful. Happy learning! Regards, Segan
NSE:ONGCEducation
by segan_the_learner
Rallis India Double Bottom Pattern / Good volumesAgro Chem sector on fire. (However Global markets are weak. US bond yields chart has given a DTL BO.) Exercise caution. Let's see how it plays out for Indian markets. SL: Below Breakout Candle. TGT: Breakdown of 20MA on Hourly chart (on a daily close basis) BUY GUIDANCE: Never ever buy before 3PM. I have been burnt many many times.Try to buy between 3:15 - 3:30PM, later the better. SELL GUIDANCE: Selling in Profit: Sell earlier in the session when the prices are higher, around 11AM. Selling at SL: Give your stock a chance to recover by end of session. If it doesn't recover, sell anywhere between 3:00 - 3:30PM.
NSE:RALLIS
by raavigeorgian
4
Supreme Industries - Range Breakout- Fundamentally strong company - Breakout from a consolidated range showing a double bottom pattern - Buying pressure indicated by the long lower wicks - Breakout is supported by volumes, however it seems there is huge selling at 2130-2170 range but the net price change on the day is still +ve - Don't chase the stock as it might correct a bit and a good entry can be near 2130-2100 levels - Good for short term as well as medium term trading - Once 2200 level is crossed there might nice momentum
NSE:SUPREMEINDLong
by Soham-18
How To identify whether stock is bottoming out? This Idea is my Bank of Baroda Positional Trade in diwali. Posting this because I got one query for my Recent BHEL Idea, where I've used similar Technique. As you can see 57 level marked with blue line is the level from where stock gave breakout twice, 2007 & 2009. it was a strong Resistance back then. In 2007 it moved from 54 to 92 In 2009 it moved from 54 to 211 Another important level was at 38. When market crashes in march 2020 it was moving in a band pf 38 to 57. Double bottom was also formed in that band. Another thing i observed was that stock was moving away form 200 EMA So mean reversion was also pending. 200 EMA was around 103 which was more than double. There was also a volume spike. Overall these made me conclude that stock was bottoming out . Based on buy call was at 46 during Diwali for a target of 92 baeed on support and resistance levels. Check zoomed pick below
NSE:BANKBARODAEducation
by varadtambolkar
10