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A DOWN TREND ALWAYS LOOKS LIKE A DOWNTREND

NSE:COALINDIA   COAL INDIA LTD
Patterns are the pictorial representation of the psychology behind the market participants. Whether it is a channel, rectangle , expanding triangle , contracting triangle. The charts shows how a downtrend prevailing in the stock coal india since few years. All the patterns formed are of a berish note & the trend continued.

The current structure also forming a contracting triangle which is also a bearish type of pattern.

Comments

Absolutely right. This has become a good money maker, thrice went short around 150 and waiting for the 4th opportunity. :)
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