COALINDIA trade ideas
Coal India forming - Inverse Head and Shoulder ??Coal India is in a down trend since long and like most of other public sector stocks is in a deep sleep. But the recent price action suggests it might be moving towards forming an Inverse Head & Shoulder. Things are still far from any kind of confirmation but have to keep an eye in the stock for next few weeks for any breakout.
coal swingmy plan is to trade short if it breaks and close below 23.6 fib level and my take profit is 50 per fib level and sl 145
stocks to buy/ sell FOR 9/2/2021 coal india
waiting for BREAK OUT .
Pick up the trade in that side.
only for intraday
InvestmentCoalindia looks good to add to the portfolio for short to medium term. RSIStairs on weekly charts has turned bullish. On daily charts it has given buy signal as per MomentumInvest trade setup.
On monthly charts it made an MorningStar pattern on November. During DEC/Jan it has made a TweezerBottom pattern on monthly scale. In current month also stock took support near 125 levels and bounced.
On weekly charts it has given a VSABreakout (wide range downthrust bar) with ultra high volume on recent closing week. RSIStairs has gone above 55. Nearest neckline resistance is 148, once taken out stock can start moving towards 174/209.9/254.
On daily charts it has given a buy signal in the TrendMaster setup followed by two back to back VSA breakout candles. Stock looks set to trade higher.
Good to invest here half the capacity and add more near 125 if stock corrects for any reason. Coal can turnout to diamond in coming years.
COALINDIAThe stock has come up very strong after touching 125 level.
Now, 200ema is at 132 which will act as another support apart from swing low (125).
Low volume pullbacks are observed recently.
CMP: 141
Target: 160, 180
CoalIndia Cup and Holder PatternCup and Holder in Coalindia
Disc:- This is only for educational purposes.
