COAL INDIA - Breakout of Cup and Handle pattern on daily chart
Coal India was facing resistance to clear 155-160 level.
Today It gave breakout with a very good volume.
Pattern here is formed was cup and handle.
Whenever stock gives range breakout with good volume it is likely to give a big move and target should be (Breakout price - CUP formation Low) which is (160 - 125) from the Break - out level.
So Estimated target can be 195.
180 is a resistance level as per chart.
Today It gave breakout with a very good volume.
Pattern here is formed was cup and handle.
Whenever stock gives range breakout with good volume it is likely to give a big move and target should be (Breakout price - CUP formation Low) which is (160 - 125) from the Break - out level.
So Estimated target can be 195.
180 is a resistance level as per chart.