Coal India Ltd has successfully broken a key resistance level and is currently retesting it, indicating potential bullish continuation. Entry zones are well-defined with a stop-loss to manage risk. Targets align with previous resistance levels, confirming strong risk-reward potential.
⚡ Key Technical Points:
- Resistance Breakout & Retest: Price has broken resistance and is retesting, a bullish confirmation signal.
- Resistance Breakout & Re-test 🔵
- Entry 1 - 401 🟢
- Entry 2 - 354 🟢 (Support Zone)
- Stop-Loss below 346 🔴 (Risk Management)
- Target 1 - 440.80 📈
- Target 2 - 502.75 📈
Why This is a Technically Strong Setup:
- ✅ Resistance Breakout & Retest: Price has broken a key resistance and is retesting it, a classic bullish continuation signal.
- ✅ Strong Support Levels: The 354 zone has acted as a solid support multiple times, making it a high-probability entry.
- ✅ Moving Averages Alignment: Price is reclaiming key moving averages, signaling trend reversal.
- ✅ Volume Confirmation: The breakout was backed by increasing volume, adding strength to the move.
- ✅ Favorable Risk-Reward Ratio: Defined stop-loss below 346 minimizes downside risk while upside targets offer a strong reward.
- ✅ Higher Highs & Higher Lows: Market structure suggests a shift to an uptrend.
🚨 No financial advice. Do your own research.
⚡ Key Technical Points:
- Resistance Breakout & Retest: Price has broken resistance and is retesting, a bullish confirmation signal.
- Resistance Breakout & Re-test 🔵
- Entry 1 - 401 🟢
- Entry 2 - 354 🟢 (Support Zone)
- Stop-Loss below 346 🔴 (Risk Management)
- Target 1 - 440.80 📈
- Target 2 - 502.75 📈
Why This is a Technically Strong Setup:
- ✅ Resistance Breakout & Retest: Price has broken a key resistance and is retesting it, a classic bullish continuation signal.
- ✅ Strong Support Levels: The 354 zone has acted as a solid support multiple times, making it a high-probability entry.
- ✅ Moving Averages Alignment: Price is reclaiming key moving averages, signaling trend reversal.
- ✅ Volume Confirmation: The breakout was backed by increasing volume, adding strength to the move.
- ✅ Favorable Risk-Reward Ratio: Defined stop-loss below 346 minimizes downside risk while upside targets offer a strong reward.
- ✅ Higher Highs & Higher Lows: Market structure suggests a shift to an uptrend.
🚨 No financial advice. Do your own research.
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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.
Related publications
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.