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Double Bottom

ENIL🔴 ENIL Previously also it came near the level of 96 and then it took reversal and created a range then breakout the range and a good movement came now also it came near level 96 and created a good bullish chart pattern DOUBLE BOTTOM and now it is near the breakout level IF SUSTAINS AND TRADES ABOVE THE LEVEL 230 THEN WE CAN EXPECT 282,366,444,511 CONDITIONS IT SHOULD FOLLOW:- TRADE AND SUSTAIN ABOVE THE LEVEL 230 MONTHLY TIMEFRAME BASIS ANALYSIS RESEARCH AND TRADE NOT RESPONSIBLE FOR ANY PROFIT AND LOSS NSE:ENIL
NSE:ENILLong
by KRISHMACHHAR
ICICI BANK ( Looking to invest 💥)Add this to watchlist and wait for entry.👁️‍🗨️ For short term investment ; Leave a " Like If you agree ".👍 . Wait for small retracement & daily candle to close above - "972" . Trade carefully untill ENTRY level. . Entry: 972 target: 975 - 985 sl: 965 -960 major stoploss/ support: 960 . . Enter only if market Breaks "Yellow box" mentioned. . . Don't make complicated trade set-up.📈📉 Keep it " simple, focus on consistency "💹 Refer our old ideas for accuracy rate🧑‍💻 Follow for daily updates👍 . Refer over old posted idea attached below.
NSE:ICICIBANKLong
by TheNuraTrading
2
TCS - Looks Good!Reason- NSE:TCS - Double bottom pattern with piercing candle on Daily Chart. Duration 7-15 days The Double Bottom pattern emerges within a downtrend when the price hits two lows at approximately the same level. During this formation, the volume tends to taper off, indicating a decrease in the selling pressure. At each low point, there might be a slight increase in volume, although it's generally less pronounced during the second low. The pattern's completion occurs when the price surpasses the highest high between the two lows, confirming a bullish signal and signaling a potential upward breakout. 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
NSE:TCS
by hardeepssethi
GENCON - DAILY CHART DOUBLE PATTERNA "Double Bottom" is a technical analysis chart pattern frequently observed in financial markets, such as stocks, commodities, and forex. This pattern is considered a bullish reversal pattern, indicating that an ongoing downtrend might be coming to an end and a new uptrend could be emerging. The Double Bottom pattern consists of two distinct downward price movements followed by a reversal. Here's how it typically forms: Initial Downtrend: The price of the asset is in a downward trend, indicating a bearish sentiment. This phase represents the first leg down. First Low: The price reaches a low point and then experiences a minor upward correction. This forms the first low point of the pattern. Second Downtrend: After the first upward correction, the price resumes its downward movement, usually not reaching the previous low. This second decline is typically on lighter volume compared to the initial downtrend. Second Low: The price finds support at a level close to the previous low but doesn't break below it. This forms the second low point of the pattern. At this stage, buyers are stepping in to prevent the price from falling further. Reversal Confirmation: Once the price starts moving upwards from the second low and breaks through a certain resistance level (often a "neckline" drawn through the highs between the two lows), it confirms the pattern's completion. This breakout is seen as a bullish signal, suggesting a potential trend reversal. Traders and analysts often use the depth between the lowest point of the pattern and the neckline to estimate a potential price target for the subsequent uptrend. However, it's important to note that not all double bottom patterns result in successful reversals. Like any technical analysis pattern, false signals can occur, and it's advisable to use additional indicators and analysis to confirm the pattern's validity. As with any trading or investment strategy, it's crucial to combine technical analysis with fundamental analysis and risk management to make well-informed decisions. Note: 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.
NSE:GENCON
by hardeepssethi
BPCL - Bullish Swing Reversal with VolumesNSE: BPCL is closing with a bullish swing reversal candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 12% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:BPCLLong
by BrahmaBull31
16th Oct ’23 - M pattern overlooking W pattern - BN PostMortemBankNifty Analysis BankNifty’s trade today looked quite different from Nifty50. The opening candle was a stronger red and we retested the 44068 support. Since we did not break it - my short call did not trigger. The rejection took BN higher by 312pts ~ 0.71% and we went into the green territory for a brief period. And even after all these - the options data was absolutely lackluster. Absolutely no premiums - the best trade again was to wait it out. We all knew HDFC Bank would come with its results today - still, the volatility was not really there. Recommend you to read this tweet by Deepak Shenoy wherein he has compared the results pre and post-merger. Most retail traders may be blinded to believing there was a 50% rise in Net Profits. The reality is quite different. On the 1hr TF we have a double top overlooking a newly formed double bottom (just below support). Although the W shape is not that beautiful - the lack of ability to break the support puts its weight behind it. Today also we had a reversal from support. I still prefer to go with a neutral stance till we get more clarity. 100% sure that HDFCBK’s results will skew the price action tomorrow - I still prefer to wait for the dust to settle.
NSE:BANKNIFTY
by viswaram
Done with the AUSSIES... Now see Shriram PROPERTIES- Company is expected to give good quarter - Company has delivered good profit growth of 23.4% CAGR over last 5 years - Debtor days have improved from 81.8 to 42.6 days. - Annual Revenue rose 57%, in the last year to Rs 814 Crores. Its sector's average revenue growth for the last fiscal year was 14%. - Annual Net Profit rose 574% in the last year to Rs 66 Crores. Its sector's average net profit growth for the last fiscal year was -15%. - PE ratio is 21 vs sector PE ratio of 101. Negative - Promoter holding is low: 28 % - Mutual Fund Holding decreased by 1.05% in the last quarter to 4.07.
NSE:SHRIRAMPPSLong
by CannySunny
GAEL looks goodThe price seems to have reached a bottom, showing signs of reversal as it has broken upward after a period of uncertainty or consolidation. Diamond pattern has been witnessed in the stock GAEL. The Diamond pattern begins during a downtrend as prices create higher highs and lower lows in a broadening pattern. Then the trading range gradually narrows after the highs peak and the lows start trending upward. When the price breaks upward out of the diamonds boundary lines, it marks a significant reversal to a new uptrend. Also in this stock witnessed the Double Bottom pattern formation during a downtrend as the price reaches two distinct lows at roughly the same price level. Volume reflects a weakening of the downward pressure, tending to diminish as the pattern forms, with some pickup at each low, less on the second low. Finally the price breaks upward above the highest high to confirm the bullish signal. Buying area, targets are mentioned in the chart and are self-explainatory. Note for everyone who came across this study: This chart is only for educational purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:GAEL
by hardeepssethi
Don't miss this - A market leader is available at a good price. How to do good in the markets ? - Buy low and sell high :-D Well, in this article, I will try to explain how can you really do well in the markets, practically. Not just an advice like - Buy low and sell high. Here's an explanation for this analysis: Fundamental: 1. A Market leader - Castrol is the second highest market share holder with more than 20% market. 2. Very strong Fundamentals - These numbers are just dream for any company. The below figures are twice as good as any competitors in this business. ROCE - 60.8 % ROE - 45.9 % 3. Consistent profit growth. There could be other parameters also, but I am highlighting the above three for fundamental analysis. Technical: 1. Huge buying force: A good share is known for performance and this has given 600% from the listing. Which is significant. 2. Correction: 60% correction from the top which catches my attention to notice a good share. 3. Base formation: Like my other analysis, I like to see a good base formation for a decent time frame. Here, the stock stops making lower lows and starts showing the sign of strengths. 4. Breakout: The dream begins here. As per Stan Weinstein (whom I have learnt a lot from), this is the stage 1 breakout. Here the stock shows first sign of strength again. Summary: If the stock confirms the breakout above 148-150 on the monthly charts, it can be a good entry location for the long term. Please understand that, nobody can make you rich by just giving you a share name, it is you who should understand your inner self and play the games by your own rules. !!
NSE:CASTROLINDLong
by NandanChaturvediTrade
JSW ENERGY WEEKLY CHART BREAKOUT IDEAJSW Energy Weekly Chart Breakout Happening on the Short Term Basis... This Stock created the Resistance Zone around 355.00 to 365.00 level as 1st time it was touched the level April' 2022... It was touched the Resistance Level on 2nd time around September' 2022... And just Lest week it was touched the same Resistance Level on 3rd time.... Its also creating "W" Pattern or Double Bottom on the Weekly Chart for Bullish run. Weekly Volume showing Good sign since March-April 2021... We are expecting a clean Breakout from @363.00 if its will sustain above @363.00 :: Data Point :: Breakout Level: @363.00 1st Target: @405.00 2nd Target: @460.00 Stoploss Point: @339.00
NSE:JSWENERGYLong
by sandipdutta1983
Mastering the Double Bottom Chart PatternA double bottom, combined with RSI divergence, can be a powerful signal for a trend reversal. What's a Double Bottom ? It's when a stock's price forms two distinct lows on a chart. The pattern is confirmed when prices rise above the peak between those two lows. Why Does It Matter? The double bottom marks the end of a downtrend and the start of an uptrend. It's one of the most common patterns, but it needs careful analysis. Adding RSI Divergence: RSI measures a stock's strength and momentum. Look for RSI to form higher lows while the price forms lower lows. This is RSI divergence and a strong bullish signal. Key Points to Remember Downtrend First: The pattern begins in a downtrend. Time Gap: The longer the time between the two lows, the stronger the reversal signal. Price Increase: Look for a significant price increase between the two lows (around 10-20%). Volume Matters: Usually, volume is higher during the first low and increases as the pattern confirms. Breakout Confirmation: Don't act until prices break above the confirmation point. Pullback After Breakout: Expect a pullback after the breakout; it's normal. Trading the Double Bottom with RSI Divergence: Calculate a target price by adding the pattern's height to the breakout point. Confirm the pattern only after prices break through the confirmation point. Be patient; not all patterns are double bottoms. Watch for volume during the pattern's development. Pay attention to RSI divergence for added confirmation. Remember: Wait for confirmation, and don't rush into trades based solely on patterns. It's wise to use multiple indicators, including RSI, and keep an eye on market conditions. 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. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:DALBHARATEducation
by RK_Chaarts
16
$NSE:BRITANNIA,1D formed Bullish HammerNSE:BRITANNIA Britannia Industries Limited is an Indian multinational FMCG company specialised in food industry, part of the Wadia Group headed by Nusli Wadia. Founded in 1892 and headquartered in Kolkata, it is one of India's oldest existing companies and best known for its biscuit products. NSE:BRITANNIA , 1D gave closing above Bullish Hammer. The body of today's candle is bigger than previous day body(which means buyer's are interested and volume slightly more than the previous day). It looks like double bottom is in formation. Entry : 4507.2 Target : 4582/4660 SL : 4420 RR : 0.85/1.75
NSE:BRITANNIALong
by Safwan65