Stock name: Dalmia Bharat Ltd.
Pattern: Double bottom pattern and retest
Time frame: Daily
Observation:
The stock has been declining since December 2023 but stabilized between April and June 2024, forming a double bottom pattern on its daily chart. On June 10, 2024, the stock has seen a significant breakout from the pattern with above-average trading volume. Although it has moved slightly upward since the breakout, it is currently retesting the breakout level. The RSI remains in a favourable zone. According to technical analysis, a rebound from the current level may lead to further upward movement.
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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
Stock name: Infosys Ltd.
Pattern: Double bottom pattern and retest
Time frame: Daily
Observation:
The stock has been declining since February 2024 but stabilized between April and June 2024, forming a double bottom pattern on its daily chart. It saw a significant breakout from this pattern on June 7, 2024, supported by high trading volume and a positive MACD breakout. However, the stock immediately faced a retest post-breakout. The RSI remains in a favourable position. According to technical analysis, a successful rebound from this retest may lead to further upward movement.
You may add this to your watch list to understand further price action.
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
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