BhavirThakkar

COAL INDIA - Bearish butterfly targeting 400

NSE_EOD:COALINDIA   COAL INDIA LTD
35 4 0
A bearish butterfly in the making. A Bat visible on the medium term chart if markets were to correct the MODI rally.
Note that the bat coordinates will change if butterfly target 400 is achieved (point C will move higher)
Bearish engulfing formed at 400!!! Co-incidence?
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THANKS FOR POSTING . WHAT WILL BE S. L. ? POINT 'C' IS O.K.? AROUND 330.00 INR.
AMBRISH
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This wont tell you SL for Long positions. It only means that 400 may be a good area to short (if it reaches that it). It not, let's leave it and move on to find other better R:R opportunities.
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AMBRISH BhavirThakkar
THANKS FOR YOUR CLEAR VIEW.

AMBY
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