BHARAT FORGE SHARE PRICE FALLEN FROM 825 TO 719 ON 3RD WEEK OF AUG21 FROM THAT LOW LEVEL WENT TO 791 AGAIN START FALLEN DRASTICALLY, ONCE REACH THE PREVIOUS LOW OF 788 THE PRICE BOUNCED BACK TOWARDS 791 ,AT THE TURNING TRADING SESSION THERE IS A HUGE VOLUME INTIMATE THE BUYERS STRENGTH , ON THE NEXT TRADING SESSION IF THE PRICE CROSS PREVIOUS HIGH WITH HIGH VOLUME WE CAN GO LONG WITH ENTRY AT 800 STOP LOSS AT 719 TARGET IS 881, BUT WE HAVE TO BE CAUTIOUS AT THE RANGE OF 830 BECAUSE THERE IS SOME STRONG RESISTANCE ON THAT RANGE.
, , Double Bottom
Hi,
A double bottom is a reversal pattern that is formed after the previous downtrend. Please refer to the attached screenshot.
noted with thanks