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.

Rajat Kumar Singh,
B.Tech. (Delhi Technological University)
Community Manager (India), TradingView

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