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Double Top or Bottom

Positional or Longterm Opportunity in Aarti IndustriesGo Long above 535 for Targets of 652.2, 720.35, and 788.5 with SL 479.95 Reasons to go Long: 1. On a Monthly timeframe the stock gave Trendline breakout (red TL). 2. If we draw the Fibonacci retracement tool from the swing low (point A) to the swing high (point B) then we see stock took support from the 0.618 Fibonacci level. 3. On 0.618 Fibonacci level the stock formed a Double bottom or W pattern. 4. In addition to this the stock took support from trendline (green TL) 3. Also a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.5 Fibonacci level.
NSE:AARTIINDLong
by Nimish_Ghagare
Mighty Nifty - Dec 7It was a long journey towards 21000. Today price moved in range and also formed a double top. We have RBI meet from today till friday. Chances are there for the expiry to be muted(range move). Pattern : Double top. Range : Medium. Trend strength : Less. Buy Above : 21020. Stop Loss : 20980. Targets : 21060, 21100 and 21140. Sell below : 20920. Stop Loss : 20960. Targets : 20880, 20840 and 20800. Check the live market updates. Expected expiry day range is 20850 to 21050. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NSE:NIFTY
by vanathi
Double Bottom Pattern Breakout on Monthly ChartThe stock recently experienced a breakout from a double bottom pattern on the monthly chart, and this breakout was accompanied by substantial trading volumes. Before the breakout, there was a notable accumulation of trading volume, indicating sustained interest and potential buying activity. The combination of a double bottom pattern breakout with good volumes and pre-breakout volume accumulation suggests a robust and well-supported bullish move in the stock. Traders and investors may find these technical signals compelling, pointing towards potential sustained upward momentum.
NSE:MOILLong
by nsdtrading
Multi year breakoutThe stock recently achieved a multi-year breakout, and this breakout was supported by substantial trading volumes. Additionally, there was a recent double bottom breakout on the weekly chart, and this breakout occurred following a period of meaningful consolidation. The combination of a multi-year breakout and a double bottom breakout, both with good volumes, suggests a strong technical position. Traders and investors may view these signals as positive indicators of potential sustained upward momentum in the stock.
NSE:NESCOLong
by nsdtrading
1st Dec ’23 - BankNifty's next move will help Nifty to breakoutBankNifty Analysis Nifty had the gap-up today, whereas BankNifty opened inline but just above the resistance level. 44542 quickly became support and was bid goodbye with the consecutive green candles till 09.50. After that the momentum on BankNifty stalled and we had a flat trade for the remainder of the day. 5mts chart link - click here BankNifty gained points during trading hours i.e. active trading vs Nifty’s Gap-up. This shows real courage among the BN bulls. 1D chart link - click here BankNifty has another 1555pts ~ 3.4% to reach the ATH. From the chart above - you can see we dropped 9% after hitting the double top (M pattern). Nifty’s next action is hugely dependent on BankNifty’s attempt to regain the ATH. I would still like to continue with my bullish stance until proven wrong by taking out the supports. Will trade the morning hours of Monday with a bit of caution as the election results may play spoilsport.
NSE:BANKNIFTYLong
by viswaram
Double bottom pattern breakout The stock has recently broken out from a double bottom pattern on the weekly chart, and this breakout was accompanied by notable trading volumes. The double bottom pattern is a classic bullish reversal signal, and the addition of strong volumes during the breakout adds confirmation to the potential change in market sentiment. Traders and investors often view such technical patterns with good volume support as significant indicators of a potential sustained upward trend. The breakout from the double bottom on the weekly chart with robust volumes suggests a positive outlook for the stock. In summary, the double bottom pattern breakout with good volumes on the weekly chart is a noteworthy technical development. This may attract the attention of market participants looking for bullish opportunities, with a focus on the confirmation and sustainability of the upward move.
NSE:NIACLLong
by nsdtrading
double bottom pattern breakoutThe stock recently experienced a breakout from a double bottom pattern on the weekly chart, and this breakout was accompanied by substantial trading volumes on the same weekly timeframe. The double bottom pattern is typically viewed as a bullish reversal signal, and the strong volumes during the breakout enhance the significance of the move. Traders and investors often find this combination of a well-defined chart pattern and robust volumes compelling, as it suggests a potential shift in market sentiment. The breakout from the double bottom on the weekly chart, with good volume support, may signal the beginning of a sustained upward trend. In summary, the double bottom pattern breakout with good volumes on the weekly chart is a notable technical event. Investors may consider this as a potential opportunity, keeping an eye on the confirmation and sustainability of the bullish move.
NSE:MEGASTARLong
by nsdtrading
IEX: Wait for retrace for Good profitWhy to choose: aim for long term only 1. Double bottom breakout. 2. Good volume. 3. Wait for retrace. 4. Company is almost debt free. 5. Company has delivered good profit growth of 19.1% CAGR over last 5 years 6. Company has a good return on equity (ROE) track record: 3 Years ROE 43.7% 7. Company has been maintaining a healthy dividend payout of 48.6% Thanks for trading panthalu for helping me to learn market. This is only for educational purpose, Investments are subject to market risk so Please make your own research or consult any financial advisor before take trade, stop loss and target.
NSE:IEXLong
by SudhakaraRatnaGupta