BPCL
DOUBLE BOTTOM BUY – 690
TARGET – 750
STOP LOSS – 670
TIME – 30 DAYS
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dear sir
that level what is mentioned as buy is the support level and the resistance level is marked as the target.
The price is trailing near the support zone it is too early to say it is a double bottom sir. it is why because we don’t know weather the price will bounce back if the price falls below the support level(290) it is a sell signal.
IN double bottom the buy signal is above the resistance level.
Good find sir. By the way you should have posted sell signal. Actually it broke that support level and made a constant fall.
LTP – 630
June 14 – 690
60 points. If we sold on F&O on that price we might got decent profit.It may go down further 30 points, if it breaks 620 level.
Theory proved practically.