Bajaj Auto trend formed a Double Bottom. It has two equal price bottoms with a duration of 1 month time frame. Also at the second bottom, the volume is more than the average volume. Since it is a signal for Bearish reversal, LONG position can be created after the price crosses the neck area. The stop loss can be from neck to the bottom. The target can be the same amount as Risk.

2 Comments
  1. Naresh 5 years ago

    Hi,
    It seems multiple bottoms…. Please refer the attachment screenshot

  2. Author
    Ramesh N 5 years ago

    Thanks Naresh for the better clarity. I have understood now.

    Regards,
    Ramesh

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