Coal India has corrected around 47% since it made all time high of 446 in August 2015. It made low at 233 after correcting 47% in August 2017. On daily chart we see some upward movement and formation of double bottom. This looks like classical W bottom. Using Bollinger band technique for chart analysis; we see left hand side of W bottom has tagged lower Bollinger ...
Scrip has started to take bullish reversal. Yet would require more confirmation to enter at price range as defined, if the scrip doesn't consolidate within certain price range
Bullish momentum sign
1) MACD - MACD is above zero, the short-term average is above the long-term average, which signals upward momentum
2) %william - Consolidation between "overbought" ...
A clean A-B-C structure
A clean 5 wave sub-wave structure in C
A falling wedge
Positive divergence in RSI ( 9 and 14 period )
Positive divergence in MACD ( Fast and Slow )
Positive divergence in Slow Stochastics
Bearish below 225 on weekly closing basis.
Coal India has retraced from its 5 year old support region of 235 and has broken its down ward trend. It is moving towards its next resistance of 265.
Breaking 265 will make it reach 280 levels in next few weeks. Coal India is definitely one to watch out for.
COAL INDIA gives proper indication of bottoming out on daily chart. Its a good opportunity to Buy Coal India between 250 - 260 for the Target of 280 and 300 Levels in upcoming days, COAL INDIA have strong support zone between 245 - 240 levels. So our strong recommendation is :-
Buy COAL INDIA between 250 - 260 Levels
First Target : 280
Second Target : 300
(We ...
Excellent bottom fishing opportunity in Coal India Ltd. Its trading near IPO Rate( Rs 0.29% .245). This zone is major support point( Analyze coal India's behavior during Aug 2013 0.25% to Feb 2014). Nearly 2cr quantity traded on major reversal day(17 Aug 2017) which was highest since Feb 2015. All in all excellent risk reward zone to initiate the trade.
CoalIndia has been falling relentlessly for quite sometime and taken support at the strong support zone at 240 from where it bounced before also.
Weekly RSI showing divergence and forming a hammer also.
