The emergence of a double-bottom pattern following an extended downtrend reflects strong buying interest at lower levels. A decisive breakout above the neckline signals a possible transition toward a bullish trend. On the chart, the stock has broken above the double-bottom neckline and is continuing to hold above that level. On Wednesday, Multi Commodity Exchange of India Ltd moved above the double-bottom neckline on the 1-hour chart, confirming the pattern with consistent buying volume. Holding above the Rs 2,400 support level points to near-term bullish momentum and the potential for further upside. In a double-bottom pattern, upside targets are generally set at resistance levels above the neckline. Traders often look to book profits at these points while keeping an eye on momentum to assess whether the trend will continue or show signs of fading.