#Long on COAL INDIA for Long Term: Breakout from Falling Wedge
Coal India got listed in Nov'10 and attained an ATH of 447.10. Since then, it had been falling reaching a low of 109.55 in Oct'20. In the process, a falling wedge pattern got created and the scrip broke out of the wedge in Feb'22 rising approx 2.5x from its lows.
A 26% rise in ongoing month of SEP'23 indicates institutional participation and interest.
Fundamentals:
Coal India targets to generate 3,000 MW solar power in the next three years and is also setting up two power plants with a cumulative capacity of 2,260 MW at a projected investment of 21500 crores.
The world's largest Coal miner has got everything to prove its mettle.
Never underestimate the Size and power of Coal India. Mind it! :)
A 26% rise in ongoing month of SEP'23 indicates institutional participation and interest.
Fundamentals:
Coal India targets to generate 3,000 MW solar power in the next three years and is also setting up two power plants with a cumulative capacity of 2,260 MW at a projected investment of 21500 crores.
The world's largest Coal miner has got everything to prove its mettle.
Never underestimate the Size and power of Coal India. Mind it! :)
Note
Target 1 approachingNote
Stocked made an intraday high of 395.85 on 02-01-2024.Hence, Target 1 stands achieved!!
Trade closed: target reached
Target 2 reached on 3rd June'24 !!!!!
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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.