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Double Top or Bottom

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
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