COALINDIA:237 at highly over sold state@strong support,Res: 270

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COALINDIA: 237 is at highly over sold state and at strong support level now; Res:270
Stop: 230
Good call :)
padiyaraa vanathi
@vanathi, thanks
Agreed, little bit confusion. On chart you mentioned "Can go long Above 277 only", where as in description it was @ 237, with target of 270. i think view in description Box is as of now actual.
@DSKF16, I think no need of any confusion, CMP237, and 7 point below is the stop loss. ok.
Now the current over sold can take us to 270_277 range comes to a 40 points gain.
Above that range it can go to next resistance,around 300,the green trend line resistance area.

There is no precise target ,always it will be a range, and selecting the best possible value for a short description.

@DSKF16, yah that comment was put in an earlier post. it is a follow up of previous posting
sausawan padiyaraa
@padiyaraa, Sir, What is the future of Coal India given India's policy of moving towards renewable energy (Solar, wind etc) and reducing dependency on Coal. I guess sales of Coal india will keep on diminishing each quater.
Also can you throw some light on REC. Is there a chance of REC crossing 200 in next 2-3 months.
padiyaraa sausawan
@sausawan, Global or national policy on energy consumption & conservation and its impact on economy etc is a vast subject needed a broad study. However I think that nothing to bother about all that things for the next century at least as there are 150 cr people in the world today who live without access to electricity & at least250 Cr people rely on traditional fuels, such as dung and wood, for cooking. Coal also accounts for 45% of the world’s electricity generation. There are over 860 billion tonnes of proven coal reserves world wide. This means that there is enough coal to last us around 118 years at current rates of production. In comparison to this, proven oil and gas reserves are equivalent to around 46 and 60 years at current production levels. Coal outlasts oil and gas combined.
Coal has been backbone of key materials such as steel, cement and aluminium, galss, ceramic, paper etc,which are important element for human being existence on the earth.

India is the third largest coal producer in the world after China and the US. The total coal production
in India was around 626 million tonnes in 2016, we imported a total of 193 MT in 2016.Coal India produces about 84 % of the country’s entire coal output We are the major contributor to power sector with nearly 77% of our supplies power India. More than 100 Thermal Power Stations in the country receive coal from Coal India. Seeing the high demand of coal in the country in future, the Government has set a goal of about 1 billion tonne coal production for Coal India Limited by 2020. so dont worry, keep studying.

recltd a post is aleady there, we are at key support now. definitely will see 200 soon

+1 Reply
sausawan padiyaraa
@padiyaraa, Thanks Sir. Valid point. Makes sense.
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