Coal india seems to be at the end of the impulse pattern and we can expect a correction soon....The chart suggests short term weakness...Traders can short on any signs of weakness...
EMA - 50 Crossed 100 that means price will take support of 20 EMA i.e. future buy expected between 313-316
RSI - enough upward space for 5% movement upwards
MACD - is above 0.00 and BULLISH we can expect less i.e. alteast 5% upward movement confirmed otherwise we would have expected 15% movement it this cross over would have happened below 0.00
Stock bounced from 78.60% Fibonacci retracement.
1st wave of the next impulsive structure looks completed.
Monitor 2nd wave corrective pattern after which wave-3 will start.
Hey Guys,
Happy Monday... We got one of the broadening types of wedge pattern and right now CoalIndia is moving between the upper n lower trendlines of wedge pattern. We can't trade at this moment using this pattern. But wait for the breakout,Once the breakout happens enter the direction of breakout.
Sometimes due to volatility of market false...
Coal India is the stock to watch out for which is making Higher highs and Higher lows
considering the power reforms in India and demand for coal one can look for long term investment as well..
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)
