Hindustan Aeronautics Limited (HAL) is an Indian state-owned aerospace and defence company headquartered in Bangalore, Karnataka, India. It is governed under the management of the Indian Ministry of Defence. The company designs, manufactures and maintains aircraft, helicopters and their engines, as well as manufactures and assembles aircraft parts. Some of its notable products include the HAL Tejas, HAL Dhruv, and HAL Rudra.
We are seeing a double bottom formation in candlestick charting which is a bullish reversal pattern that occurs after a prolonged downtrend. It is characterized by two distinct lows of roughly equal height, with a moderate trough in between. The pattern is considered to be complete when the price breaks above the resistance level that connects the two highs. Traders often use this pattern as a signal to buy, as it suggests that the trend has reversed and the price is likely to move higher.
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