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Double Top or Bottom

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
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
Bullish Pennant and Double Bottom BreakoutWeekly chart analysis of NSE:LATENTVIEW A bullish pennant has been seen on weekly chart pattern. In technical analysis that usually forms after a strong price movement upward, followed by a brief consolidation period. A double bottom is a bullish chart pattern observed in technical analysis. It usually occurs after a downtrend and signifies a potential reversal in the price of an asset. The pattern resembles the letter "W" and consists of two troughs at approximately the same price level, separated by a peak (the pattern's central point), the same has been marked on chart . Key Points: Continuation Pattern: The bullish pennant is generally considered a continuation pattern. Traders interpret its formation as a temporary pause or consolidation within the broader upward trend before the price is likely to continue moving higher. Breakout: The pattern is confirmed when the price breaks above the upper trendline of the pennant, accompanied by an increase in volume. This breakout signals a potential resumption of the prior uptrend. 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:LATENTVIEW
by hardeepssethi
Double bottom pattern breakoutThe stock recently experienced a breakout from a double bottom pattern, and this breakout was accompanied by noteworthy volume accumulation. The presence of good volume accumulation during the formation of the double bottom pattern adds significance to the breakout. A double bottom pattern is generally interpreted as a bullish reversal pattern, and the breakout with volume support reinforces the potential for a sustained upward move. The volume accumulation suggests increased interest and participation, providing additional confirmation of the bullish sentiment. In summary, the combination of a double bottom breakout with good volume accumulation enhances the bullish outlook. Traders and investors may find this technical setup compelling, indicating a potential shift in the stock's trend with strong market support.
NSE:BYKELong
by nsdtrading
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
BANKNIFTY Pre-Market Analysis Nov 17, 2023Bank Nifty going red? On November 16, the Bank Nifty opened flat and has underperformed and closed lower by 40 points to 44,162. The index has reached the daily upper Bollinger band 44,400 and witnessed some selling pressure at the end. Technicals : We have seen a bullish pennant forming in Bank Nifty followed by a Double Top Pattern. The surprising element was the breakout happened prematurely and quick in a few minutes. The weekly chart of Bank Nifty is still bullish and I believe it has the capacity to hit a new ATH or at least 45000, before the wedge breakdown. Crucial Support level: 44,100 – 43,900 Market Cues: RBI released a bunch of News which are good and bad for banking sector which is expected to crate a mixed sentiments. The US markets and Gift Nifty is trading in red which further pushes the possibility of a red Friday. Unlike Nifty, which has a PCR of over 1, Bank Nifty has a PCR of 0.81, indicating that traders are still bullish on the index. Disclaimer: This is just my pre-market analysis. You are only responsible for your trades. Hit like and follow me to get market updates.
NSE:BANKNIFTYLong
by UnknownUnicorn34628734
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
Good Long term Investment Opportunity The stock recently experienced a significant breakout in the form of a flag pattern on the monthly chart. Additionally, a double bottom breakout occurred on the weekly chart, with subsequent retests confirming the breakout levels. The combination of these breakouts and successful retests suggests substantial upside potential for the stock. Traders and investors may find these technical developments compelling, indicating a favorable outlook for potential bullish opportunities.
NSE:POWERINDIALong
by nsdtrading