COALINDIA TRADE SETUP
Trade reason:
Coal India on weekly chart form inverse head & shoulder pattern( bullish)
which has resistance area 149 to 155.
last 2 week share form INSIDE BAR CANDLE PATTERN.
mother candle of inside bar candle high 159.70 and low 137.10..
because of inverse head and shoulder pattern we only look for buy side..
SO BUY IF CROSS ABOVE 160.. IN THIS CASE IT WILL BREAK H&S pattern and INSIDEBAR pattern also.
Swing Trade : (1-3 month)
because of analysis on weekly chart
BUY 160
SL 143
TARGET 181 AND 214
Coal India on weekly chart form inverse head & shoulder pattern( bullish)
which has resistance area 149 to 155.
last 2 week share form INSIDE BAR CANDLE PATTERN.
mother candle of inside bar candle high 159.70 and low 137.10..
because of inverse head and shoulder pattern we only look for buy side..
SO BUY IF CROSS ABOVE 160.. IN THIS CASE IT WILL BREAK H&S pattern and INSIDEBAR pattern also.
Swing Trade : (1-3 month)
because of analysis on weekly chart
BUY 160
SL 143
TARGET 181 AND 214
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