Coal India is trading in range since last 3 months, between 309.86-335.66, it is again approaching target 335.60, trader may go long in Coal India up to 335.66 and wait for breakout, if breaks it may further go upward with a target of 350.0 or reverses touching 335.66.
The price action breaks out from a trending channel , indicating weakness and bearishness. It shall now reach to Fibs levels targets at 321, 313. Stoploss 336
Enter short positions in CoalIndia , only if there is valid bearish confirmation around 331 zone
After Target-1, you can either trial stops or reverse the trade bcos of Bullish Gartley
If coalIndia shoots up in resistance zone, dont enter short positions.
In the above chart, I have marked two candlestick patterns, Dark Cloud Cover and Piercing Pattern and describe their fundamentals. It is been drafted for educational purpose.
