3 Stocks forming Double bottom on Daily charts as the Market Rebounds

Double bottom is a Bullish Reversal Pattern that is used in Technical analysis to see for signals of a trend shift, from a downtrend to an Uptrend. This pattern is the Opposite of the Double-top pattern.

How to Trade the Pattern:

• Breakout Entry: Once the price breaks above the neckline, traders look for a buying opportunity.

• Target Price: The expected upward move is approximately equal to the distance from the top and bottom of the pattern.

• Stop-Loss: Placed below the second bottom to limit downside risk.

Here is the list of stocks that have formed Double Bottom on 1 Day time frame:

1. IRB INFRA

IRB Infrastructure Developers Ltd is an infrastructure development and construction company in India with extensive experience in the roads and highways sector. It is also in other business segments in the infrastructure sector, including maintenance of roads, construction, airport development, and real estate

With a market capitalization of Rs. 27,706 crores, the stock is trading at Rs. 45.88. It has fallen 38.26 percent from its 52-week high of Rs. 78.15. The Double Bottom breakout took place at the Price of 45.07.

2. JAGSONPAL PHARMA

Jagsonpal Pharmaceuticals Limited is an Indian pharmaceutical company established in 1978, specializing in the development and manufacturing of active pharmaceutical ingredients (APIs) and form

With a market capitalization of Rs. 1,484 crores, the stock is trading at Rs. 224. It has fallen 31.61 percent from its 52-week high of Rs. 328. The Double Bottom breakout took place at the Price of Rs. 220.36.

3. JK PAPER

JK Paper Limited is one of India’s leading paper manufacturers, specializing in the production of office papers, packaging boards, and coated papers. Established in 1962 and headquartered in New Delhi, India, the company operates three state-of-the-art manufacturing facilities in Odisha, Gujarat, and Madhya Pradesh. 

With a market capitalization of Rs. 5,302 crores, the stock is trading at Rs. 313. It has fallen 50.47 percent from its 52-week high of Rs. 638. The Double Bottom breakout took place at the Price of 310.60.

Written By Abhishek Das

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