Could Claim another 1000 pointsDaily Time frame : Bank Nifty
Bank Nifty has brokenout of symmetrical triangle . Also ther is a small double bottom inside that triangle
Could see 46k
Double Top or Bottom
Double bottom and clean breakout.Daily Timeframe: State Bank of India
SBIN is going to 620 after clean breakout of double bottom formed at support level
GALAXYSURF - Weekly AnalysisIn the Weekly Chart of GALAXYSURF ,
we can see that, it has given W pattern breakout.
Enter on retest of Trendline with Candle's Low as SL.
Also, it is leading towards Cup & and Handle Chart formation.
Expected momentum is shown in chart.
TCS - Weekly AnalysisIn the Weekly Chart of TCS ,
we can see that, it might give W breakout next week .
TCS alone can bring momentum in NIFTY IT Sector.
Enter on W breakout and book profits as per Risk ratio.
Expected momentum is shown in chart.
Dow Jones Trade set up1. Trend - Bullish
2. Trend Reversal - Probable Double Bottom
3. Early Entry - Before break of neck line
4. TSL can be Aggressive SL for aggressive traders else 34029 level would be a proper room to cover up the volatility
#CLEAN - Double Bottom#CLEAN - Double Bottom
Buy @ Close above 1505
Sl @ Close Below 1235
Target @ 1920
$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
DOUBLE TOP IN MAKING IN AMBUJAAmbuja cements has made double top on daily charts. Once 445 levels get broken than double top formation will place ambuja near 415-420 range. Buy above 468 only for 485 to 500 levels.
Will SBI touch 620? Keep watchConsolidating since last 2 weeks, above 580 good opportunity for swing trade. Target 620.
Double Bottom Pattern FormationDouble Bottom Pattern Formation in Daily Chart of PONNIERODE
What is Double Bottom Pattern?
The double bottom pattern is a popular technical chart pattern used in financial markets, particularly in stock trading and investing. It is considered a bullish reversal pattern, signaling a potential change in the trend from a downtrend to an uptrend.
The pattern consists of two significant lows (or troughs) on a price chart that are approximately at the same level, separated by a temporary peak (or high) in between. Visually, it looks like the letter "W."
Here are the key characteristics of the double bottom pattern:
Downtrend: The double bottom pattern occurs after a prolonged downtrend, indicating that the price of the asset has been decreasing over time.
First trough: The first low point (trough) forms as the price reaches a bottom and begins to rebound slightly.
Temporary peak: After the first trough, the price retraces upwards, forming a temporary peak or a small rally.
Second trough: Following the temporary peak, the price declines again but typically does not fall below the level of the first trough. The price then rebounds once more, forming the second trough at a similar level to the first trough.
Breakout: The confirmation of the double bottom pattern comes when the price breaks above the resistance level formed by the temporary peak between the two troughs. This breakout signals that the downtrend may have ended and a new uptrend is potentially starting.
Volume: Ideally, the trading volume should show a decrease as the pattern forms and then increase when the price breaks out of the pattern. The volume pattern should generally mirror the price pattern, with a higher volume during the breakout.
Traders and investors often use the double bottom pattern to identify potential buying opportunities. Once the pattern is confirmed with a breakout, they may enter a long (buy) position with a stop-loss order placed below the pattern's lowest point. The profit target can be set based on technical analysis or by measuring the pattern's height and projecting it upwards from the breakout level.
As with any technical analysis pattern, it's essential to use the double bottom pattern in conjunction with other indicators and analysis tools to increase the probability of successful trades and to manage risks effectively. Moreover, like all technical patterns, the double bottom is not foolproof, and there is always a risk of false signals, so it's essential to practice prudent risk management when trading based on chart patterns.
Note for everyone who came across this reference:
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.
FINEORG - Weekly AnalysisIn the Weekly Chart of FINEORG ,
we can see that, positive momentum is started with W pattern breakout.
Enter at 4625 with SL as 4500 and Go long for an Year for better percentage of returns.
Expected momentum is shown in chart.
LTTS - Weekly AnalysisIn the Weekly Chart of LTTS ,
we can see that, it has given range breakout.
Let it retest and then enter with SL and targets.
Expected momentum is shown in chart.
BTC FORMED BULLISH SHARK BTC FORMED CLEAR BULLISH SHARK AND DOUBLE BOTTOM. RSI BULLISH DIVERGENCE also supports to move bitcoin till 27200 to 28600 levels
USDT.D FORMRED BEARISH SHARKUSDT.D formed bearish shark pattern and double top, BEARISH DIVERGENCE in RSI which all suggests that usdt dominance will come down which is inversely related to BTC and ALTCOINS.
HINDALCO DOBLE BOTTOM BREAKOUTHindalco breking double bottom
good volume strong RSI
MACD crossover done
near target🎯 500+
educational idea only
GNFC - Weekly AnalysisIn the Weekly Chart of GNFC ,
we can see that, it might respect the Range one last time and then show an up move.
Expected momentum is shown in chart.
Possible double bottom formation.Looks like possible formation of double bottom on weekly basis. Observe the chart near the end of trading session on Friday 1st Sept 23.
Do check other indicators and apply your own study before taking entry.
Micro cap company potential to double current price Stock chart show current price will be double stock price keeping 27-30 as Stop loss.
Company last 3 quater giving positive results
Positive of the company is giving UPI service by this company. Pramoter itself telling this company global 30% online money transfer using this company
No cash generating company
Operating cash flow is negetive
BANK NIFTY LEVEL Banknifty 1day timeframe reacting
#Double Bottom
Strong support is over here 43720 to 43423
Good neckline supply zone 44727 to 44603
For short position should be below support are 43423
for long position should be above neckline area 44727
Please do analysis your own risk thank you
Finolex consolidation breakoutVery high probability upswing of +20% possible. Following are technical reasons
1. Made good double bottom at weekly 200ma
2. Good support at 50ema (there is tendency to respect 50ema)
3. Also took support at 155 which was earlier resistance.
4. Now we see it breaking out of consolidation.
Target 205 and 230 possible SL can be at 155.
Double TopA double top is a bearish technical reversal pattern.
It is not as easy to spot as one would think because there needs to be a confirmation with a break below support.
While a double top is a bearish signal, a double bottom is a bearish signal.
Top tops usually have an upswing, initial peak, trough, second peak, and neckline.
Investors can short trade after the break or place small trades, as double tops may have limited profit potential.
Script = BSE
Time Frame = 1 Day
persistent MONTH FRAME analysisStock on month frame is in uptrend
strongly defended its base area
its a breakout candidate after consolidation
stop loss to reward is healthy
DOUBLE TOP CANDIDATE : M_MDouble top has been formed on Mahindra & Mahindra at the top of the structure what i'm expecting is a pull back to 1400.
