Coal India: POSITIONAL BUY on close above 150 - 152.80 on daily charts.
Expect targets of 180 levels. Maintain stop loss of 121.
Overall stock market conditions are very important factor in positional calls.
Coal India is now moving comfortably in a channel, only should look for a Long Opportunity if and when it Breaks out.
SL - Half the width of the channel, and first target Width of the channel..
May take time for the entry point to Develop, but will be a good trade.
1) In monthly candle coal India is still in down trend..
2) already reached fib level 2.618..
3) target expected fib level 3.618 & monthly trend line also confirming that level.. Candle also strong bearish candle.. so further downtrend expected..