A DOWN TREND ALWAYS LOOKS LIKE A DOWNTREND

Patterns are the pictorial representation of the psychology behind the market participants. Whether it is a channel, rectangle, expanding triangle , contracting triangle. The charts shows how a downtrend prevailing in the stock coal india since few years. All the patterns formed are of a berish note & the trend continued.

The current structure also forming a contracting triangle which is also a bearish type of pattern.