Coal India has been trading in a healthy consolidation range over the last few sessions, indicating absorption of supply and steady accumulation by buyers. The price action suggests that the consolidation phase is now maturing, often a precursor to a directional move.
The stock has managed to hold above its key short-term support zones during this phase, reflecting strength and stability in the structure. With consolidation nearing completion, Coal India appears poised for a potential upside breakout, provided it sustains above the current range.
Momentum indicators are gradually turning positive, supporting the possibility of a fresh bullish leg once buying interest picks up.
Trade Plan:
Buy: ₹390 (After some pullback)
Stop Loss: ₹370
Target: ₹430
A close below ₹370 would invalidate the setup, so strict stop-loss discipline is advised.
Trade with proper risk management.
The stock has managed to hold above its key short-term support zones during this phase, reflecting strength and stability in the structure. With consolidation nearing completion, Coal India appears poised for a potential upside breakout, provided it sustains above the current range.
Momentum indicators are gradually turning positive, supporting the possibility of a fresh bullish leg once buying interest picks up.
Trade Plan:
Buy: ₹390 (After some pullback)
Stop Loss: ₹370
Target: ₹430
A close below ₹370 would invalidate the setup, so strict stop-loss discipline is advised.
Trade with proper risk management.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.