Indusind Bank

#2
Dear Vinod,
Can you please explain what it means ? You will help novices like me learn. I waded through the net and could understand that this double bottom should have increased volume and ascending acculumation ? In this case it seems to be missing.

Do not mind me asking such fundamental question. A live example like this will help me understand better.

Thanks.
 
#3
Hi Investock,

Your comments are welcome. Regarding the volume part, I am attaching another chart. I do not want to give recommendations on this site as much senior people are there in this forum. My intention was to bring to everyones notice about this DOUBLE BOTTOM, and the best person to analyse this and give opinion is Tradeji himself.

So we will wait for his views.

Regards,
Vinod
 

Attachments

#4
Hi Vinod, Thanks. But I am unable to make out any increase in the accumulation. Anyway, I am a novice in this. Thanks again.

Traderji is requested to help.
 

Traderji

Super Moderator
#8
investock said:
People ! Some one please translate this latin in to English. Please!!
Wait for the stock to close above Rs. 42.00. Once the stock closes above this level of 42.00 buy the stock. After you have bought the stock, keep your stoploss at 39.00. Once the stock starts moving up and reaches 50-52 yourcan book profits by selling the stock.

I hope that helps.
 
#9
Hi, Traderji, Thanks. I understood that part of the message. But what I wanted to know was how do you identify these on a chart. If you have time to spare kindly show it on the chart so that I can try out on other charts. Some one else stated that this will go to 60 and above. That is why I am asking.
Thanks for your time.
Regards
 

Traderji

Super Moderator
#10
investock said:
Hi, Traderji, Thanks. I understood that part of the message. But what I wanted to know was how do you identify these on a chart. If you have time to spare kindly show it on the chart so that I can try out on other charts. Some one else stated that this will go to 60 and above. That is why I am asking.
Thanks for your time.
Regards
To understand chart patterns you will need to get hold of the books mentioned in Recommended Books on Technical Analysis
 

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