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Coalindianalysis

Coal India showing a break down on the daily and weekly charts.Coal India has been trading in a parallel channel from Feb 2024 and the range has been broken and closing below it has been given on the daily and weekly basis. The stock is trading around a support zone of 480-485. It is trading around the 100 ema levels on the daily charts and closed below 20 ema on weekly charts. Entry in a bearish trade can be made once the market take a retest around the round number figure of 500 and forms a negative price action. Clear pattern break down is there in the stock. Positional/swing trades can be initiated once there is a retest and break down of the support zone. Entry :- Below 480 Targets :- 465 Stop Loss :- 490 (close on hourly charts) Wait for the price action near the levels before entering the trade.
NSE:COALINDIA
by Mambotrade
Coal India back to its starting pointCoal India with such a ravishing rally this entire month of Sept, halts at the price where this started i.e., 291 as on 1st Nov'10. From here a buying plan is to enter fresh trades on breakout and retest of 291 for target of 307 and 320 with small but significant resistances at 295, 299, 302, 315-316. Short side opportunity on break of 291 and retest it as resistance for downside targets of 278 and 264. Will keep updating the levels as it goes with the flow.
NSE:COALINDIALong
by AbsoluteAnalysis