Coal India is trading just near it 20 ema on a daily time frame.
The stock has given a break down of a trend line and has retested it.
The volume analysis are also supporting the break down.
Support :- 182.5, 172
Resistance :- 192, 197
If the price crosses below the level of 184 the entry can be made.
Wait for the price action near the levels.
Cup and Handle Pattern, Breakout Entry Days candle should close above 191
Holding Period: Long Term
Entry Above: 191
Stop Loss: 139
Target 1: 238.50
Target 2: 278.50
Coal india consolidated today in a descending triangle pattern of Hourly time frame.
Support levels :- 186.8, 188
Resistance levels:- 192,194.5
On smaller time frame it seems to be on a support. Wait for the levels to sustain and price action pattern.
Coal India Ltd - 11.02.2022
The stock is trading @ 166 levels
There is a STRONG RESISTANCE @ 167 levels
There is a SPINNING TOP in Daily Chart
The prices are above EMA
RSI is 56 in Weekly Chart
watch out for the price action
One can initiate a BUY Position @ current levels with Support @ 160.20
The Company will post their Q3FY22 results on 14.02.2022
NSE:COALINDIA
Observations:
1) On 1 day time frame, it face resistance from 21DMA and still trading below 200DMA.
21DMA is placed at 149.37 and 200DMA is placed at 150.81 level range.
Hence, 150-151 will me major resistance area.
And it is trading with immediate support trendline.
Please refer below chart : 1 day Time Frame. ...
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
Coal India
Cmp - 155
Stop - Nil, Add more on relevant dips
Expectation -
T1 -200
T2 - Open, Review at 200
Expected Holding Period - 3 months or earlier for T1
Technicals - ✅, right
Fundamentals - ✅, will follow price
View:- Swing/Investment
Disclaimer:-
Ideas being shared only for educational purpose
Please do your own research or consult your financial...
From the chart, it is evident that the stock took support at previous resistance of 164. After taking support at the mentioned level, it has completed retest and is moving back up. I am bullish on the stock for the next few weeks as it can give a great upside movement.
The five wave structure suggests stock is rising in an impulsive manner. As of now stock is in its third wave . One should go long on current levels with stop loss of 165 & look for the targets of 200 and 245 zone.
COAL INDIA breaks out a multiyear pattern. Please refer to the chart that i have published. I have given SL and Targets for ur reference. Trade safely. This is only my view. My views may turn wrong. If you have any doubts post your comments below. Thankyou.
Wait for breakout from the long term downward trend . Ascending channel pattern can be observed on the chart but we may experience difficulty to break the resistance expecting it will trade in the in ascending channel pattern only till it sustain above 180 once sustain above 180 level then it will be ready for good upside movement
![COALINDIA: [Positional] Coal India Long Idea](https://s3.tradingview.com/z/ZgawTrhU_mid.png "[Positional] Coal India Long Idea")
![COALINDIA: Simple Trade Setup | COALINDIA | 30-12-2021 [INTRADAY]](https://s3.tradingview.com/m/ms8FOpBQ_mid.png "Simple Trade Setup | COALINDIA | 30-12-2021 [INTRADAY]")
