amankavi
Long

Coal India : Rebound from crucial support level

NSE:COALINDIA   COAL INDIA LTD
Scrip has started to take bullish reversal. Yet would require more confirmation to enter at price range as defined, if the scrip doesn't consolidate within certain price range

Bullish momentum sign
1) MACD - MACD is above zero, the short-term average is above the long-term average, which signals upward momentum
2) %william - Consolidation between "overbought" situation as marked in needed to gain momentum
3) Volume surge which is sign of more buying around 52-week low henceforth, regaining bullish momentum

Support - (SL) 245 or as per risk appetite

TP aiming towards final target as mentioned in chart
Oct 09
Comment: Missed the rally towards TP-281 however planning to enter, aiming towards final target and beyond
Bullish surge in regressive mode with volume buying however, scrip might consolidate or show some corrections due to profit booking e.t.c
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