AMBUJA CEMENT – DOUBLE BOTTOM – DAILY CHART
It is a pretty good example of double bottom formation. Double bottom formed around 170 level and neckline formed at 181 level i.e. 11 point height. So there is high probability that it will touch the 181+11 = 192 level once it break the 181 level. Finally, it touched the level of 195 level.
Also watch the VOLUME & BREAKOUT CANDLE in chart. Volume is supporting the breakout candle which supports the pattern.
