COAL INDIA LTDLong
COAL INDIA ; PARALLEL CHANNEL UPTREND
FYI : Red Line refers to Monthly Trendline(TL) , Blue Line refers to Weekly Trendline(TL), Black Line refers to Daily Trendline (TL)
Coal India LimitedCOALINDIA is an Indian government-owned coal mining and refining corporation. It is under the ownership of Ministry of Coal, Government of India. It also has one of the highest dividend yield in PSU.
1. Stock has been in a uptrend parallel channel on weekly charts since Oct 2020 ; Stock has taken support four times from the lower line of the channel and 4 times resistance from the upper band.
2. Stock has also given fake breakout on weekly charts as price went above the upper band and failed to form more green/bullish candles after the breakout candle.
3. Now stock has given momentum from 140 zones and now is re-testing demand.
BUY @ CMP ; SL : 142 ; TGT : 180
Wishing you a Peaceful Trading
- Gursahaj Singh
DISCLAIMER : This is for demonstration and educational purpose only. This is not buying or selling recommendation. We are not SEBI registered.
Coal India Limited
COALINDIA is an Indian government-owned coal mining and refining corporation. It is under the ownership of Ministry of Coal, Government of India. It also has one of the highest dividend yield in PSU.1. Stock has been in a uptrend parallel channel on weekly charts since Oct 2020 ; Stock has taken support four times from the lower line of the channel and 4 times resistance from the upper band.
2. Stock has also given fake breakout on weekly charts as price went above the upper band and failed to form more green/bullish candles after the breakout candle.
3. Now stock has given momentum from 140 zones and now is re-testing demand.
BUY @ CMP ; SL : 142 ; TGT : 180
Wishing you a Peaceful Trading
- Gursahaj Singh
DISCLAIMER : This is for demonstration and educational purpose only. This is not buying or selling recommendation. We are not SEBI registered.
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