The final leg of the bearish Shark pattern that we saw emerge on Apr 11th, seems complete ( please see earlier analysis ). We are trading at the Potential Reversal Zone. So, there is an opportunity to Short now for a move of 36 points to 50 points. Target is 836.
Remember, Uptrend looks intact. So, this is a tight counter trend call.
Coal India is looking at 264 range before earnings. The volumes the past few days have been interesting - not entirely reassuring but definitely, volumes (including On Balance Vol) have been good. HEiken Ashi candles are still supportive of the upmove.
