Coal India is in a longterm bearish trend. Trading near-daily resistance i.e. around 150 Positional traders can short with a stop-loss of 2-3 points and target of 20-25 points. Intraday players can look for various shorting opportunities as long as coal India is below 150
Do you see it making Inv H&S with neckline at 149, by any chance? If so, does risk reward offer good odds?
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@JMvalueinvest, Yes I see Inv H&S you can also see Cup and handle pattern but the thing is Coal India is in a major downtrend and here sl is 4 points and the target is 26 points.
Also if you see the volume on monthly there is less volume in bullish candles. if the overall markets or nifty moves up it can hit your sl but I recommend never buy stock in a major downtrend. you can take intraday trade if it gives breakout.
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@JMvalueinvest, and if you want to buy go with bullish stocks like RELIANCE checkout my bpcl charts.