Coal India consolidation

After a big run over 12 percent coal India dropped by 4 percent in a single day. Traders are still bullish on this trade due to the good news. Technical analysis say otherwise.

An evening star is formed- An evening star is a sign of reversal towards the bearish side.

In my view - Coal India will go down ↘ or consolidate for a while between 150 and 140. It won't break the resistance of 160 this month. Hence there is a good opportunity to sell the 160 CE option and earn from it.


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