Price crossed below neck line and this neck line was confirmed as resistance now after bulls continuously fail to go above this level. Hence, Entry was taken at 1667, stop loss fixed at Rs.1740 and Target is Rs.1590. Risk reward ratio is 1:2

1 Comment
  1. MOHAN KUMAR R 5 years ago

    Hi Karthikeyan,

    While analyzing Double bottom or top, we should consider the previous trend also. For example : If we are spotting a double top then the previous trend for a considerable period should have been Bullish. And for the Double bottom the vice versa.

    I too did the same mistake when i started practicing double top or bottom, but later i got corrected by Mr.Naresh I think. Its always good to learn from our mistakes.

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