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johntradingwick
Jun 7, 2021 3:28 AM

Coal India - Positional view | Inverse Head & Shoulders  Long

NSE:COALINDIA1W
COAL INDIA LTDNSE

Description

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Key Highlights:

1. Bullish market structure - HH, HL
2. Volume expansion
3. Long period of downtrend & accumulation
4. Trendline breakout & retest done
5. Forming Inverse Head & Shoulders
6. Successful retest of the neckline
7. Support zone: 140-146
8. Target: 162, 183, 213, 241, 271. Stop Loss: 135
9. Time frame: 9-12 months

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.

Comment

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◆ Target 1 Hit ✔️
Trend AnalysisChart PatternsTechnical IndicatorsCOALINDIAcoalindianalysiscoalindiatechnicalanalysiscoalindiaview
Comments
pavankukdal
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really good Analysis,
johntradingwick
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@pavankukdal, Thank you :)
nexgsimba
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It's a nice break out. trend line with inverse head and shoulder. do you think it's a good price to open fresh positions? just asking.
johntradingwick
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@nexgsimba Yes, in my opinion, it's a good time to scale in position if you looking for a positional or a swing trade.
maheshwarivishal19
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great Analysis!.
psrarunisaimaran
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J, Which trendline BO we should consider
is that on 22 Feb 21 or 26 Apr 21
johntradingwick
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@psrarunisaimaran, It's subjective and varies from person to person. I have considered 22 Feb as breakout and 26 April as retest. Some people may consider 26 April as Breakout.
Gotledu
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Prim and proper!
johntradingwick
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@Gotledu, Thanks a lot :D
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