India, Nov. 4 -- A double bottom is a bullish reversal chart pattern that typically points to an upward breakout. It forms as price movement attempts to break lower twice, creating two distinct troughs at a similar horizontal support level at the bottom, separated by a central peak in the middle. This pattern reflects growing buyer strength, as traders aggressively step in at key support levels to defend against lower prices while continuously absorbing selling pressure on the second dip. As price action recovers from the second trough and breaks above the pattern's middle resistance line, the neckline, the built-up buying momentum usually triggers a clear breakout, confirming the reversal of the downtrend and signalling a long entry.

A...