ICICIGI - A comfortable Triple bottom pattern
Analysis:
This chart indicates a potential triple bottom pattern, which is a bullish reversal pattern. This pattern typically forms after a downtrend and suggests that the stock may reverse its trend upwards.
Support: The triple bottom is forming around the 17880 level, indicating strong support at this price.
Resistance: The immediate resistance level is around 1,879.95, with a stronger resistance at 2,000.00.
The formation of a triple bottom is a positive sign, but confirmation at resistance through a breakout with high volume is crucial before taking a buy position. Monitor the price action around the resistance levels and moving averages for additional confirmation signals.
This chart indicates a potential triple bottom pattern, which is a bullish reversal pattern. This pattern typically forms after a downtrend and suggests that the stock may reverse its trend upwards.
Support: The triple bottom is forming around the 17880 level, indicating strong support at this price.
Resistance: The immediate resistance level is around 1,879.95, with a stronger resistance at 2,000.00.
The formation of a triple bottom is a positive sign, but confirmation at resistance through a breakout with high volume is crucial before taking a buy position. Monitor the price action around the resistance levels and moving averages for additional confirmation signals.
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