Double Bottom but Failed Breakout Retest | Daily Time Frame

28 Apr

📉 OBEROI REALTY LTD – Double Bottom but Failed Breakout Retest
📅 Date: April 28, 2025
📈 Timeframe: Daily Chart
🔍 Stock: Oberoi Realty Ltd (NSE)

📌 Technical Overview:

A Double Bottom pattern was formed indicating bullish reversal potential.
Price attempted a breakout above the neckline near ₹1704.25, but the retest failed — price could not sustain above the breakout zone.
Price is currently trading at ₹1656.80, under the trendline support.

🧩 Key Observations:
✅ Double bottom structure was confirmed.
❌ Breakout retest failed — caution needed.
📉 Watch trendline support (black line) closely — breakdown could trigger weakness.
📊 Volume during the failure was moderate (not aggressive selling yet).

🧠 Observational Bias:
Weak below the trendline support.
Bulls must reclaim and hold above ₹1704.25 to regain strength.

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