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Double bottom chart pattern 15 mins.
Volume lowered by 30-40%.
Bullish RSI divergence.
(Only for Education Purpose)
It is been observed on the daily chart that the price action breaks above the crucical and important resistance levels and shall further move up from current levels. It also created a bullish inverse head and shoulder pattern.
It is been observed that the price action is breaking out from a long consolidation range, indicating a strong move to upside.
buy with sl of 190 for 230 level.
stock is clearly in uptrend .
[buy @190.55 sl 184.55 t1 194.5 t2 198.7 rsi going up on 4 hour chart and hold for short term
Looks like a possible pull back after the price advance with huge volume.
Any positive catalyst can drive the price to new level.
However be cautious and set your STOPLOSS below the trend line.
as we can piercing pattern at the support area and stochastic in oversold condition i would recommend to surpass the 8 ema line and give a buy call
HINDALCO - Double Top Setup
It is been observed that the price action moving up making Higher highs and higher lows. It also breaks above new resistance and now it shall further go up