johntradingwick

Coal India - Cup & Handle pattern + Volume expansion

Long
NSE:COALINDIA   COAL INDIA LTD
Key Highlights:

1. Bullish market structure - HH, HL
2. Volume expansion
3. Forming Cup & Handle on Daily
4. Forming Inverse Head & Shoulders on Weekly
5. Approaching major resistance zone 155-160
6. Flipped the 145 zone into support
7. Close above 160 will trigger a rally to 180
8. Target: 170, 179, 188. Stop Loss: 144

I have made an illustration on the left-hand side, to explain the Cup & Handle pattern.

You are always advised to use an appropriate Risk-Reward ratio as per your strategy.

P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.

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Comments

you are correct...
Reply
@nakachu, I can only hope that, the market is the boss. xD
Reply
one ques @infamousraja... can't we enter the stock if breakout of 160-62 level happens in daily...Or at the time pullback in daily tf.
Reply
johntradingwick doranobitaman
@doranobitaman, You can enter on any time frame, provided you place an optimal stop loss.
Reply
what could be fresh buy position for coal india?
Reply
@nexgsimba If you are willing to the take risk, then you can enter on pullback on lower time frame with a stop below the low of the handle.

But if you are looking for a safer entry, then open fresh positions only after 162.
Reply
nexgsimba johntradingwick
@johntradingwick, thanks.
Reply
@nexgsimba, No worries, mate.
Reply
YOU HAVE BRILLIANT IDEAS
Reply
@bd702521 Thanks a lot :)
Reply
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