There are three possibilities in this stock
if falling price takes support from any of the areas mentioned on chart,
then each area has different targets, which are mentioned on chart on higher side.
yes it will turn positive in near by time because wave is still suggesting same.
i am not sebi registered...
The five wave structure suggests stock is rising in an impulsive manner. As of now stock is in its third wave . One should go long on current levels with stop loss of 165 & look for the targets of 200 and 245 zone.
coal forming pattern also run inside channel from long time. on up side their is small resistance. after breakout of resistance expecting a pullback on that area or it can also gone more down for take support from green line so keep in watch
Coal India stock price has shown a nice rise of 6.39% today with good volumes. The price was trading in a falling channel, the price broke above the ABCD pattern's resistance level. This is a break-out level.
The price is currently at a rejection point from where the massive fall in price had occurred in the past. It is important for the price to sustain above...
It has been observed on a weekly chart that the price action is forming a bullish "Inverse Head n Shoulder Pattern" indicating buyers coming back in the stock and shall turnaround stock to upside in coming weeks.
It is providing a good investment opportunity with holding time of 6m-1year.
T1- 250 SL 130
Coal India showing Ross Hook pattern :
• Ross Hook Pattern formation can be seen
• It can also be called as Bear Pattern 1-2-3 (Entry stop loss marked); 1:2/3/4 can used as risk reward if it follows
• Price took support @ 0.5 fib retracements levels
• Volume and RSI decreasing
• Bullish Bat formation taking place (not confirmed yet)
COALINDIA 15 min time frame analysis
Traders can go for swing trade for this one .
See the movement and Go long or Short after proper breakout and break down
Please put proper stop loss
*We are not SEBI registered
This is only for educational purpose.
Please consult your advisor before making any trade or investment
Nifty Energy to outperform Nifty in coming days.
Both Long term and short term trend became bullish.
Very positive changes are happening in this
Charts are looking bullish .... : :)
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