BORORENEW: How to capture 15% move using simple technical tools

bororenew double bottom pattern momentum technical analysis Jan 30, 2024

BORORENEW: How to capture 15% move using simple technical tools

We used these 2 indicators on BORORENEW and were able to capture a 15% move in just 3 days. You can also use these to identify stocks with momentum for short-term trades.

We published BORORENEW analysis in "The Financial Waves Short Term Update" on 24th January 2024 which our subscribers receive pre-market every day. Check out below the detailed research report that we published.

BORORENEW Weekly chart Anticipated as on 24th January 2024

BORORENEW Daily chart Happened as on 30th January 2024Wave analysis as on 24th January 2024

BORORENEW has been moving higher recently and intact in strong uptrend. In the previous session it closed with a massive gain of 11.59%.

On the weekly chart, in the previous session prices formed a bullish candle. A double bottom pattern is a classic technical analysis charting formation that represents a major change in trend and a momentum reversal from a prior down move in market trading. We have applied parabolic SAR which used to determine the price direction as well as draw attention to when the price direction is changing. A series of dots placed below the price which is deemed to be a bullish signal.

In short, trend for this stock is positive. Use dips towards 555-560 as a buying opportunity for a move towards 620 levels as long as 535 holds on the downside.


Stock continued to move higher from the opening candle itself and made a high of 643 that is 15% up from above mentioned levels. Formation of double bottom pattern on the Weekly chart and increase in volumes gave us a double confirmation of the breakout. In such volatile session price has managed to give 15% returns in just 3 days.

Brahmastra (Mentorship) on Timing the market – Learn the science of Trading Time along with Elliott wave, Algo creation for stock selection, multibagger, momentum stock identification, risk and money management in 3 months of Brahmastra program. Limited seats only, to know more fill the below form.