Nifty50: Does it want to be bullish?

After multiple rejections from the trend line, a breakout occurred but failed to sustain due to certain news and rumors.
The good thing is that the price is still above the 200-day moving average.

Expecting an upside move. but why?

By looking at the technical analysis , I have found that
1. The price has remained above the 200-day moving average.
2. A double bottom pattern or W pattern has formed, which is a sign of a bullish trend .