India, Jan. 23 -- ABB India Ltd, after experiencing a prolonged downtrend in recent trading sessions, has formed a double bottom pattern in the 30 min time frame, signalling a potential bullish reversal.

The double bottom is a classic bullish reversal pattern, characterised by two troughs formed at roughly the same price level, separated by a moderate rebound. This formation indicates that selling pressure is diminishing and signals a potential shift from a downtrend to an uptrend once the price breaks above the resistance level (the neckline).

On Thursday, the stock broke above the Rs 4,750 resistance neckline after forming a double bottom pattern. This breakout, supported by sustained buying volumes, confirms near-term bullish momentu...