Adam and Adam Double Bottom Formation: This formation typically indicates a reversal pattern, characterized by two sharp V-shaped bottoms. It reflects a strong rejection of lower prices and often precedes a bullish trend reversal.
Breakout Confirmation: Yesterday's NSE:BANKNIFTY breakout above the neckline adds confirmation to the bullish bias. The candle...
1. Identifying the Downtrend:
A downtrend is characterized by a series of lower highs and lower lows. Upon analyzing the price chart of Praj Industries, it's evident that the stock has been declining over a certain period. This downtrend is marked by a consistent pattern of lower highs and lower lows, indicating selling pressure and overall bearish sentiment in...