COAL INDIA is in strong sideways consolidation for nearly two months between the range of 142 lvl and 150 lvl .
So, could this either be an accumulation/distribution zone & shall expect for a momentum sooner or could this continue in this consolidation phase for some more time ..?
So, What shall be expected from this stock down the days, share your views &...
Looking at the daily chart of BHEL, you can see a simple price action pattern which is explained below. (OPEN CHART FOR DETAILED EXPLANATION)
Firstly, it is visible that BHEL has given a brilliant bull trend from December'20.
Presiding the uptrend, an accumulation phase can be seen and then a breakout form that phase caused the uptrend.
Now, according to price...
💢for risky players💢
enter @230-40 range
strict sl below 200🙏
is this Accumulation Or distribution?
🔹Fund houses/brokerage firms updating their trgt into 280-300-350 levels.
🔹Stock with good financial performance alongside good to expensive valuation.
🔹Strong Financial perfomance.
🔹Also the chart looks postive.