COALINDIA - Ichimoku BreakoutStock Name - Coal India Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 370
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
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COALINDIA trade ideas
ROUNDED BOTTOM/SAUCER PATTERN FORMED IN COAL INDIATECHNICAL ANALYSIS -
ROUNDED BOTTOM/SAUCER PATTERN :
An inverted bottom was formed in the monthly chart of coal india from 2nd may'19 to 2nd may'22 and it was broken out afterwards
REVERSAL FROM 50D & 100D SMA :
Market has taken reversal from 50D & 100D sma crossover on daily timeframe after hovering around that zone for a very long time
STRONG SUPPORT-RESISTANCE ZONE :
Market has also broken out of a very powerful zone and has taken reversal from that zone indicating strong upward momentum
SURGE IN VOLUME :
Volume had also surged heavily from the beginning of 2021 indicating upcoming strong market movement
PROFIT
market has finally reached the profit target of 276 which is equivalent to the height of the saucer pattern
coal india coal india has changed its structure from downtrend to uptrend by breaking the recent highs and has met our 1st traget, the stock structure is clearly out of downtrend and may consolidate for next 1-2 months and start a strong upward journey
Disclaimer:
not a buy or sell recomemndation as im not a certified person to do that , i am not responsible for any profit and loss, Please do you our due deligence, sharing chart for educational purpose only
BUY COAL INDIA TARGET 270+Coal india trading in bullish uptrend channel and very soon coal india will take support of channel support and will shoot up for upside and it will convert into higher high and higher lows formation,,so after assuming all this we can say this will move towards 275+ levels very soon after taking support of channel,,so this could be a best swing trade for one to 3 months..so buy at current level 218.9 and keep a stop loss at 190 and ride for target 250/270/290+..always use stop losses to cut losses.
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COALINDIANSE:COALINDIA
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
COALINDIA 1HR (27 MARCH 2023)NSE:COALINDIA
ABOVE 232 we can think about buying otherwise trend is in downwards direction.
above 226 we will get signal og bullishness,downside if crossed 206 then it may touch
201 ,if it broke 201 then chance to tuch 185 rapidly.
All important levels are drawn in the chart.Work with risk reward ratio. not taking a trade is also a trade.
A trade cant change anything keep in your mind,if you think one trade can change your life then you are doing gambling in the market.take calculated risk.
DISCLAIMER- We are not a SEBI registered advisor.this is only for educational purpose. before taking trade take advice from your financial advisor.We will not be responsible for your profit and loss.
COALINDIA--Bearish gap be filled @246??COALINDIA Observations:
----->The previous resistance level of 234 is once again proving to be a hindrance, although buyers have managed to push the price up.
It's advisable to stay in a long position until the price drops below 225.
If you're looking to invest, consider going long with target prices set at 240 and 246.
As we are currently in an uptrend, it's expected that the resistance at 234 will soon be broken.