NeeteshJain
Long

COAL INDIA - BULLISH DIVERGENCE

BSE:COALINDIA   COAL INDIA LTD
It is been observed on the daily chart that the price action is forming a bullish hidden RSI divergence where price action is forming lower lows where as RSI oscillator forming higher lows, indicating a trend change and bullish move ahead.

Target 1: 295

Target 2: 300

Stoploss: 280
Trade active
Trade active
Comment: Stoploss Changed to 275-272 to the strong support zone.


Regards
Trade active
Comment: Coal India getting good buying at support zone as expected, good time to initiate.


Regards.

Comments

Nothing is happening n CoalIndia, its on sideways mvement, neither SL neither UP.
+1 Reply
NeeteshJain kawalgeek
@kawalgeek, Yes, I'm also holding it patiently. It shall do something big as Bharti in coming days. Lets sit tight. Regards
Reply
Reached near 3 months (276.1) low. Expecting a bounce back from 275-276 level.
+1 Reply
touching 275 will initiate many long positions
+1 Reply
Superb !! you are great bro.
+1 Reply
Currently at very attractive level. Risk-Reward in absolute favor
+1 Reply
NeeteshJain 76764554
@76764554, Yes, it may correct little further to 275 levels and then it becomes more favorable in terms of risk reward. Regards
Reply
sovan_nit NeeteshJain
@NeeteshJain, but it is in downtrend as of now, shouldn't we wait for trend reversal and then get into it? otherwise it might like like jumping the gun.
Reply
I have 2 questions for you

1) Coal india fundamental news seems to be negative, given concerns on safety/child labor regulations to proceed with 10% stake sale divestment. Also the ministry has downgraded coal quality in 177 mines out of 413, given the negatives, its most likely to reach SL than the PT. If reached, should we exit or revise the SL?

2) You have 2 Targets. Will you recommend holding 2 lots each trade and close 1 lot in target 1 and wait for target 2 or exit entire position in Target 1?

Can i have your contact no, i would like to talk to you to see if we can generate any mutual beneficial business out of it. you can mail your number to my id at p.b.pradeep@s2ar.com

Regards
Pradeep


+1 Reply
NeeteshJain p.b.pradeep
@p.b.pradeep, I understand your query and it seems like the stock may correct further more at current levels to around 275 and 272 levels which is a strong support zone and we could see a good buying at that zone. Now, you may hold your positions without adding further and wait for the price action to close above 285 levels to add more to your positions. Email id: neeteshjain01@gmail.com for any other query. Regards
Reply
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