mister_singh_0110

COAL INDIA ; PARALLEL CHANNEL UPTREND

Long
NSE:COALINDIA   COAL INDIA LTD
FYI : Red Line refers to Monthly Trendline(TL) , Blue Line refers to Weekly Trendline(TL), Black Line refers to Daily Trendline (TL)

Coal India Limited NSE:COALINDIA is an Indian government-owned coal mining and refining corporation. It is under the ownership of Ministry of Coal, Government of India. It also has one of the highest dividend yield in PSU .

1. Stock has been in a uptrend parallel channel on weekly charts since Oct 2020 ; Stock has taken support four times from the lower line of the channel and 4 times resistance from the upper band.

2. Stock has also given fake breakout on weekly charts as price went above the upper band and failed to form more green/ bullish candles after the breakout candle.

3. Now stock has given momentum from 140 zones and now is re-testing demand.

BUY @ CMP ; SL : 142 ; TGT : 180

Wishing you a Peaceful Trading
- Gursahaj Singh

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