A double bottom looks similar to the letter W and indicates when the price has made two unsuccessful attempts at breaking through the support level. It is a reversal pattern as it highlights a trend reversal. After unsuccessfully breaking through the support twice, the market price shifts towards an uptrend.
GNFC SPOT Best Buy Near Neckline.
1. Breakout of multi year downtrend channel in the month of august which was started in 2017
2. Formation and breakout of inverse head and shoulder pattern on weekly chart.
3. Stop Loss as per Pattern is 183 (DCB).
BHARATFORGE SPOT chart is forming CUP WITH HANDLE pattern. If Retest neckline and hold. it may give marked target to validate this pattern successfully.
VIEW NEGATED BELOW - 499 (DCB).
Holding Period - 6 to 9 Month.
BHARTIARTL SPOT chart is forming inverse head and shoulder pattern. Break out with closing above neckline may give the marked target to validate this pattern successfully.
VIEW NEGATED BELOW - 474 (DCB).