Morning Star
Can COALINDIA Glow from current Levels?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.
Cheers! This is as per my Analysis. Feel free to share your view about this. Please do your analysis before trading/Investing.
Happy Trading.
Long Position in Coromandel after Confirmation 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 in MGL 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
Coal India Open a Swing trade possibility.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.