#Nifty #Sensex #Stock Recommendations #UBHOLDINGS

#UBHOLDINGS  has formed a #DOUBLE #BOTTOM on daily charts.Hence I recommend to buy this stock with a stop loss of Rs.23/- and target of Rs.37/- in  48 trading sessions.

DEFINITION of 'Double Bottom'

A charting pattern used in technical analysis. It describes the drop of a stock or index , a rebound, another drop to the same level as the original drop, and finally another rebound. 

                                                         Explanation 

The double bottom looks like the letter "W". The twice touched low is considered a support level.

Most technical analysts believe that the advance off of the first bottom should be 10-20%. The second bottom should form within 3-4% of the previous low, and volume on the ensuing advance should increase.