India, June 4 -- A double bottom chart pattern is a bullish reversal pattern, shaped like the letter "W", indicating that a downtrend may be losing momentum and shifting toward an uptrend. The chart shows a bullish breakout above the key resistance zone near Rs 49.65, supported by strong buying momentum and rising volumes.

NMDC Steel Ltd moved above the double-bottom resistance neckline on June 1st, 2026, and sustained itself above the key resistance level and closed at Rs 52.45 on June 3rd in the weekly chart. Sustaining above the Rs 49.65 support level signals near-term bullish momentum and potential for further upside.

In a double bottom pattern, traders typically target the next resistance level above the neckline, where traders ma...