Get started

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