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Coalstocks

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 – Accumulation Phase almost completed, Ready for RUNCoal India – Accumulation Phase almost completed, Ready for a Bull Run. Entry – CMP Stop loss – 137.1 Target 1 – 288.5 Target 2 - 441 Duration - 4-5 years Small resistance between 237.6 to 288.5 All numbers are *Weekly* based Fundamentally, all numbers are too good, no issues at all and Co is cheaply valued too with 8% as Dividend Yield. Technically, Accumulation has happened in last 10 months and Weekly breakout level can be above 155.5, Sustaining above this Level can give a good Run UP. As per below Calculation, Public Holding in Coal India is around 5.45% and more or less Accumulation Phase of this stock is almost completed. Around 959crs more will be required and there will be shortage of Coal India Stocks in market Monthly avg volume : 336 (in mill) Average Price last few months : 127 (rs) months of Accumulation : 10 Value of Accumulation : 426720 (1*2*3) converted millions to crs : 42672 Average Delivery % : 20% Deliverable Qty : 8534.4 (5*6) Market Cap on 11-05-2021 : 95,888 Deliverable Qty % : 8.90% (44415) Assuming 50% of Deliverable Qty is Sold again : 4.45% Public holding : 5.45% Pending for Accumulation : -1.00% (`10-11) Value Pending for Accumulation in CRs Rs : -959 (`12*8) Last 2 days volume is worth 1720 crs so accumulation of 959crs worth of shares should not be a difficult task Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.
NSE:COALINDIALong
by SagirKazi
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