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⭐️ Ultra Equity Advice #120 | Sell | Expected Profit 11-13% | Arijit Banerjee

OUR RECOMMENDATION

  Sell    COAL INDIA  

CP#157.95
IdeaSELL
Sell Range166 – 155
Target143.9 – 140.7
StopLoss*170.5
Duration8 – 10 Trading Days
Potential Returns^11 – 13%
CP#IdeaSell RangeTargetStopLoss*DurationPotential Returns^
157.95SELL166 – 155143.9 – 140.7170.58 – 10 Trading Days11 – 13%

# CP – closing price on Mar 09, 2020
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 151.
^ Potential returns are calculated based on the median of sell range.

COMPANY OVERVIEW - COAL INDIA

Coal India limited together with it’s subsidiaries offers coaking coal primarily use for steel making and metallurgical industries. The company also offers non-coaking and thermal grade coal for power generation, fertilizer, ceramic, chemical, brick manufacturing, paper, chemical and other heating purposes. Additionaly Coal India offers tar oil, heavy oil, light oil used in furnaces and boilers, power house etc. In Q3FY20, Cola India had reported consolidated net profit decreased 14.08% to Rs 3,923.87 crore from Rs 4,566.85 crore in the last year

Stock Data
NSE CodeCOALINDIA
Sectoral IndexNifty 500
52W High271.45
52W Low156.95
Face Value10
Relative Performance_Coal India vs Nifty 500

COAL INDIA TECHNICAL ANALYSIS (WEEKLY)

Coal India Technical Analysis - Weekly Chart
Coal India Technical Analysis - Weekly Chart
  • As seen in the weekly chart, Coal India had been trading in a downward sloping range over the last five years. The upper edge acted as a resistance whereas the lower edge acted as a Support in this period.
  • After a consistent downward trend in the last five years, the stock has shifted into a sharp downside breakout of its multiyear support in the previous trading session.
  • Coal India share price has been closing below all important Weekly Moving Average parameters.
  • A falling channel downside breakout shows further bearishness and expecting rapid downfall in the coming days.

COAL INDIA TECHNICAL ANALYSIS (DAILY)

Coal India Technical Analysis - Daily Chart
Coal India Technical Analysis - Daily Chart
  • Downside breakout from Rectangle consolidation pattern signals the continuation of Downtrend.
  • Black Marbozu candlestick on the breakout day indicates that Coal India share price traded strongly in one direction throughout the day. The bears were fully in control and drove the price down. It closed lower than it opened.
  • ADX and -DI crossing above 20 indicate selling momentum and probable further fall.
  • Overall a negative chart and momentum pattern indicating an opportunity for a SHORT trade.

COAL INDIA SHARE PRICE LIVE UPDATE - POSITION & ACTIVITIES

Position: Short Coal India at ₹ 164.2 by GoodluckCapital on TradingView

Position: Short Coal India at ₹ 164.2 by GoodluckCapital on TradingView

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MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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