What is Panic Bottom?
Two Live Case Studies
1. ICICI Prudential Life Insurance
Source: Chartalert.com
ICICI Prudential stock has consistently disappointed so far. Last time in July – the stock bounced with huge intensity from 340-350 levels and so it has come on Panic Bottom radar as the stock is back to the same level again. Will the stock surprise on upside – needs to be seen?
2. LIC Housing Finance
Source: Chartalert.com
LIC Housing Finance stock bounced with energy from levels of 460 in July and so it has come on Panic Bottom radar as it has slipped back to that level again. Will the stock surprise on upside – needs to be seen?
Chalte Chalte
Panic Bottom works very well in a large cap well known name. It is not a high conviction trade like breakout but sometimes panic bottom pattern has a tendency to surprise in a big way. This is a pattern that requires lot of vigilance, courage and patience. I have shared it so that you can test new patterns and ideas.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers