COAL INDIA LTDLong
#Long on COAL INDIA for Long Term: Breakout from Falling Wedge
Updated
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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