Sell COAL INDIA
|Sell Range||166 – 155|
|Target||143.9 – 140.7|
|Duration||8 – 10 Trading Days|
|Potential Returns^||11 – 13%|
|CP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Returns^|
|157.95||SELL||166 – 155||143.9 – 140.7||170.5||8 – 10 Trading Days||11 – 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
|Sectoral Index||Nifty 500|
COAL INDIA TECHNICAL ANALYSIS (WEEKLY)
- 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)
- 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.
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⭐️Ultra #Equity Advice #120: █████#Share price was in falling channel #trend. Sharp downside #breakout below multiyear #support. A perfect #Bearish setup. #RiskReward ratio for this #trading is 1:2.https://t.co/eRoqnhifhR#GoodluckCapitalUltra #technicalanalysis #nse— Gᴏᴏᴅʟᴜᴄᴋ Cᴀᴘɪᴛᴀʟ (@CapitalGoodluck) March 11, 2020