{"id":146987,"date":"2025-04-04T08:15:00","date_gmt":"2025-04-04T02:45:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=146987"},"modified":"2025-04-03T17:16:10","modified_gmt":"2025-04-03T11:46:10","slug":"defence-stock-breaks-out-from-double-bottom-pattern-key-support-resistance-levels-to-watch","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/defence-stock-breaks-out-from-double-bottom-pattern-key-support-resistance-levels-to-watch\/","title":{"rendered":"Defence Stock Breaks Out from Double Bottom Pattern \u2013 Key Support &amp; Resistance Levels to Watch"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2509695506\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>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.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4271001325\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><h2 class=\"wp-block-heading has-medium-font-size\">How to Trade the Pattern:<\/h2><ul class=\"wp-block-list\"><li><strong>Breakout Entry:<\/strong> Once the price breaks above the neckline, traders look for a buying opportunity.<\/li>\n\n<li><strong>Target Price: <\/strong>The expected upward move is approximately equal to the distance from the top and bottom of the pattern.<\/li>\n\n<li><strong>Stop-Loss:<\/strong> Placed below the second bottom to limit downside risk.<\/li><\/ul><p>The Defence Stock that has formed a double bottom on its Weekly chart is <strong>Bharat Dynamics (BDL)<\/strong><\/p><div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXeM0JEYhJOrJf_COZDxRJAYc8UM3TC-5By3EmFU2Bw9QRW5JaRVLAI1XMaab1r24VlHVBtQRtiTNd5Ckl_rYh-RzUaHwm1TrGnBU6iv5emqYvt7ATpBAc2N84LVaE2dQZQ5lgt9?key=1Pg5KXb_ynMMR13XM-W5rCN2\" alt=\"\" style=\"width:988px;height:auto\"\/><\/figure><\/div><p>The Breakout Level for the Double Bottom is Rs. 1,285, and the stock is currently trading at Rs. 1,348. The next resistance zone for the stock is Rs. 1,520 to 1,650. And the Nearest support zone for the stock is Rs. 1,140 to 1,080.<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>About the Company<\/strong><\/h2><p>Bharat Dynamics Limited (BDL) is a leading Indian Defence public-sector undertaking (PSU) under the Ministry of Defence, specializing in the manufacturing of missiles, torpedoes, and allied defense equipment. Established in 1970 and headquartered in Hyderabad, Telangana, BDL plays a crucial role in India&#8217;s defense sector, serving as a key supplier of strategic weapon systems to the Indian Armed Forces. It plays a key role in India\u2019s defense sector, serving as a key supplier of several strategic weapon systems to the Indian Armed Forces.<\/p><div class=\"trade-content_5\" id=\"trade-3433731285\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Additionally, the one-year return for the share is 53 percent, and the five-year return for the stock is an incredible 1,366 percent..&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written By Abhishek Das<\/strong><\/p><\/blockquote><p class=\"has-medium-font-size\"><strong>Disclaimer<\/strong><\/p><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on <a href=\"http:\/\/tradebrains.in\/\">tradebrains.in<\/a> are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing<\/strong>.<\/p><div class=\"trade-after-content\" id=\"trade-3902527991\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>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: The Defence Stock that has formed a double bottom on its Weekly chart is [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":124547,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[27813,27814,27815,6247,948,936,3157,2597],"class_list":["post-146987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-bharat-dynamics-bdl","tag-bharat-dynamics-bdl-analysis","tag-bharat-dynamics-bdl-technical-analysis","tag-defence-stock","tag-stock-market","tag-stock-market-news","tag-stock-to-watch","tag-stocks-to-watch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Defence Stock Breaks Out from Double Bottom Pattern \u2013 Key Support &amp; 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