Stock looks to be in correction retracement from recent downtrend.
At 0.38 fib if it turns may form a "b" wave to complete agin by moving up for wave "c" at around 2052 odd levels.
this may be completion of larger wave "B" correction after which larger wave "C" may unfold.
educational only
A BAT pattern is completing in Bank Nifty.
As per my earlier post dt 28th Oct The retracement from butterfly seems finishing.
A slight up side and then pull back in Bank Nifty is expected.
The pattern will be invalidated if a Sharp surge or a Gap up opening is seen somewhere above 25840- 25850 levels.
coal india seems to breaking the long falling channel. however the divergence and XABCD pattern completion may pull it down to 270-272 levels before crossing the important level of 281-282 for the target of 310 or so in coming days.
disclaimer: Trade on your own risk
Triangle of fourth wave seems completed at the level 732.00 on 12th oct. Emerging fifth wave may take this to well above 830.00. RSI and MACD properly aligned.
Disclaimer: Trade on your own risk
Bullish bat pattern emerging. If its true then Coal india may move towards 310 as discussed in previous publish.
Disclaimer : Personal view. Traders do on their own risk
