Coal India Ltd.gained +11.15 points to 185.70 and formed bullish candle on the daily charts as the closing was higher than opening levels and finally settled with moderate losses amid consolidation on September 29.
Security is trading near important resistance and have given a good breakout from their daily resistance.The stock has now finally broken out from that 180 resistance with strong candle.Technically this pattern indicates long term bullish in the market. Consequently, it gives securities prices a bullish characterization and look for retest entry at recently broken resistance area.
As long as the market sustains above 185, the market is expected to gain momentum, further pushing the price till 250 - 300 level, while on the downside the price is expected to support at 160.
Security is trading near important resistance and have given a good breakout from their daily resistance.The stock has now finally broken out from that 180 resistance with strong candle.Technically this pattern indicates long term bullish in the market. Consequently, it gives securities prices a bullish characterization and look for retest entry at recently broken resistance area.
As long as the market sustains above 185, the market is expected to gain momentum, further pushing the price till 250 - 300 level, while on the downside the price is expected to support at 160.