COALINDIA has formed a Morning star pattern near its all-time low price levels. The volume is also expanded for the day, which is implying a bullish move from current levels. However, it might test the low of the previous major swing which is at around 120 levels. If it breaks that level, a good up move is implied. Else, it will be continuing its downward journey....
Coromandel Stuck in a 14% Range.
It has come back to re-test it's support and 2 possible reversal candles(Morning Star) are seen at support.
If an Close above these candles High/Body is seen then a good Upmove can be expected with a good Risk/Reward Ratio.
Morning star pattern might take place.The stock is making higher highs & lower lows with a rising trend channel also with increase in volume.Go long with a target of 21 & Stoploss when the candle closes below the trend line.
After a clear down trend, a Doji has formed which is followed by a green candle. All this right at a major support level (yellow line).
One can go long with a target of 1400 & SL just below the green candle on a closing basis.
Morning star is a bullish chart pattern. It's formed at the end of a downtrend. A doji is formed after a clear down trend, followed by a green candle which confirms the beginning of an uptrend.
Other points to consider:
1) Touched the low of the channel.
2) RSI is oversold.
Target: 900 SL: 825
Probably Going upwards soon... May be it's Morning Star Pattern which indicates Upward Trend and Share will go up soon... Target : 225-230 (1-1.5months), Don't take trend based on this... Just for information and I'm not expert just learning and try to improve myself
A morning star candlestick pattern is formed today which indicates a trend reversal. The same happened before as you can see in the round marking sections. Opportunity for a swing trade.
Buy at 123.85 or you can wait for confirmations.
Please verify it with your technical analysis also.