ParamjitMahapatro
Long

coal ind should bounce

NSE:COALINDIA   COAL INDIA LTD
in weekly, hammer formed at horizontal support.

in daily, regular bullish divergence seen.
sl - 235, tgt - 280
Trade active: today big green candle formed and closed above upper BB. and BB is expanding, sign of bullishness,
Trade active: cmp - 255, trend line resistance broken with good volume,
Trade active: till now 259.80, and price is clinging to upper bb and bb is expanding, sign of bullishness,
Trade active: going good, till now 270.85, Inv HnS formed and breakout happened with good volume, looks quite bullish now.
Trade active: till now, 281.35, BB is expanding and candles are riding upper BB, sign of bullishness

Trade closed: target reached: all tgts achieved here, cheers
Comment: after hitting the inv H&S tgt, price retraced back to the pattern neck line, then regular bullish divergence formed at the support zone, after some consolidation, it is again showing strength,

Comment: follow up analysis, price bounced sharply, after hitting the support zone,
Comment: in weekly, price showing strength, next tgt - 330,

Comments

good explanation and excellent follow up...
+1 Reply
@Raj10, Thanks and keep following for more analysis like this :)
Reply
cmp - 271, price again came down to the support zone .
Reply
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