Hi Friends,
Pranam!!
We are now going to analysis the technical part of Coal India Ltd!!!
Weekly TF:
The script was in the consolidation phase for the past 1.5 years.
The script was near the dynamic resistance of EMA50-EMA79 at 142-150.
Daily TF:
The script was in the uptrend and trendline constitute the same.
The script has taken the dynamic support of EMA50-EMA79.
Resistance was braked at 141-146.
CPR was daily TF was in the bearish bias and average cpr.
CPR was braked out.
MACD for the script as in the Bullish side and Weekly MACD was flat.2hr TF was in the overbought zone of the MACD and bullish was in the weaker side.
Stochastic RSI of daily TF was in the overbought zone.
Whereas the Weekly and 2HR TF was above 50 zone.
ATR Volatility was Flat in Daily, Weekly and 2HR TF.
Pattern:
In 2hr TF the script was formed Inverted H&S Pattern and neckline of the Head and Shoulder was braked out.
Also the script was broken the trendline and retested the same which took as the support.
Based on the above we conclude that Coal India was in the Bullish View and its right investment for Long Term aspect.
Entry for Short-term:
Wait for the pullback to EMA50-EMA79 zone with stochastic RSI of 2hr to come to oversold area and retrace above 20.
SL - 141-1ATR of Daily
Target - 164
If you like our analysis give us a thumbsup.
Pranam!!
We are now going to analysis the technical part of Coal India Ltd!!!
Weekly TF:
The script was in the consolidation phase for the past 1.5 years.
The script was near the dynamic resistance of EMA50-EMA79 at 142-150.
Daily TF:
The script was in the uptrend and trendline constitute the same.
The script has taken the dynamic support of EMA50-EMA79.
Resistance was braked at 141-146.
CPR was daily TF was in the bearish bias and average cpr.
CPR was braked out.
MACD for the script as in the Bullish side and Weekly MACD was flat.2hr TF was in the overbought zone of the MACD and bullish was in the weaker side.
Stochastic RSI of daily TF was in the overbought zone.
Whereas the Weekly and 2HR TF was above 50 zone.
ATR Volatility was Flat in Daily, Weekly and 2HR TF.
Pattern:
In 2hr TF the script was formed Inverted H&S Pattern and neckline of the Head and Shoulder was braked out.
Also the script was broken the trendline and retested the same which took as the support.
Based on the above we conclude that Coal India was in the Bullish View and its right investment for Long Term aspect.
Entry for Short-term:
Wait for the pullback to EMA50-EMA79 zone with stochastic RSI of 2hr to come to oversold area and retrace above 20.
SL - 141-1ATR of Daily
Target - 164
If you like our analysis give us a thumbsup.
Trade closed: target reached
Comment:
Trail Your SL for riding the trend