cup and handle formation is seen on 4h chart of COALINDIA
One can go long above 144 with SL 127,. Not a recommendation. Just for educational purpose!
COAL INDIA (BREAK OUT DONE) ACCUMATION IN PROCESS
Last week, I had posted charts of COALINDIA forming a descending channel and also predicted a breakout in the coming days. Here it is, this may not be like a 5-10% trade or something. But a 2% is enough for intraday. The trade involved no risk and very easy to spot as the volume rocket from 100k to 2.9M as the breakout happened. This was to show the power of...
I think coal India Sharing is going to move in a narrow trading zone now. The major support zone is around 121 levels. The stock may retest the level of 134 around. I see bullishness in RSI.
It has activated a C Clamp in daily time frame. It could test 190 provided it does not break 171
COAL INDIA has made a Bullish Harmonic Shark today. If it holds 182 then it can retest 200-210
Weekly time frame is showing a C Clamp while Daily time frame has given a breakout yesterday. It could test the next resistance near 225. View negates below 205
at support 196,buy with the target 208