Currently, Coal India has shifted its overall structure from a bullish trend to a bearish one. This transition indicates a significant change in market sentiment, suggesting that the strength which previously propelled the stock upwards has weakened. Now, the stock is exhibiting consolidation — moving within a range — as it prepares for the next major move.
Immediate Outlook:
From the current consolidation phase, I expect Coal India to experience a short-term upward movement. The stock could rally towards the 430–495 range. This area is crucial because it represents a discounted zone — a point where many investors might perceive value due to the previous downtrend. Essentially, this zone could act as a supply area where sellers may become active again, limiting further upside.
Medium to Long-Term Outlook:
Once Coal India reaches the 430–495 level, I anticipate selling pressure to increase significantly. As a result, the stock could reverse its short-term gains and continue its broader bearish trend. Based on my analysis, it is likely to break key support levels and potentially fall below 350 over time.
It’s important to continuously monitor price action, volume, and key resistance/support areas to validate this view as market dynamics can shift quickly.
Immediate Outlook:
From the current consolidation phase, I expect Coal India to experience a short-term upward movement. The stock could rally towards the 430–495 range. This area is crucial because it represents a discounted zone — a point where many investors might perceive value due to the previous downtrend. Essentially, this zone could act as a supply area where sellers may become active again, limiting further upside.
Medium to Long-Term Outlook:
Once Coal India reaches the 430–495 level, I anticipate selling pressure to increase significantly. As a result, the stock could reverse its short-term gains and continue its broader bearish trend. Based on my analysis, it is likely to break key support levels and potentially fall below 350 over time.
It’s important to continuously monitor price action, volume, and key resistance/support areas to validate this view as market dynamics can shift quickly.
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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.
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.