ROUNDED BOTTOM/SAUCER PATTERN FORMED IN COAL INDIA
TECHNICAL ANALYSIS -
PROFIT
market has finally reached the profit target of 276 which is equivalent to the height of the saucer pattern
- 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