ParamjitMahapatro

coal ind should bounce

Long
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,

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.