After spotting coal India yesterday at right time for 2% intraday gains, here I came back with Coal India again with long term chart analysis for making some big money.
With long Term Chart analysis, it is clearly evident that Investors entered one year back and after it hit High of 424, consolidation (Profit Booking) started dragging stocks down to 333 level (50% retracement) and thereafter it became range bound fluctuating between 360 and 400. Stock is now trading at 392 and heading for its all time high of 424. But lets have a closer look to see whats kept in between for Coal India to reach all time high.
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Bulls are powerful now and ready to reach 400+ non stop. Also Arrow mark shows whenever MACD Blue line crossed Zero line, Coal India gave good Intra-day gains but this time bulls are non stop. So, 400 should immediate resistance and few investors or traders should think of profit booking at that level, but once its crossed and sustained above that level, we can see new high soon.
Disclaimer: I am an independent trader and I may or may not trade on calls I generate. The sole purpose of blog is learning and author is not responsible for loss made on trades executed on calls generated here. So take your own trade decision wisely
With long Term Chart analysis, it is clearly evident that Investors entered one year back and after it hit High of 424, consolidation (Profit Booking) started dragging stocks down to 333 level (50% retracement) and thereafter it became range bound fluctuating between 360 and 400. Stock is now trading at 392 and heading for its all time high of 424. But lets have a closer look to see whats kept in between for Coal India to reach all time high.
Bulls are powerful now and ready to reach 400+ non stop. Also Arrow mark shows whenever MACD Blue line crossed Zero line, Coal India gave good Intra-day gains but this time bulls are non stop. So, 400 should immediate resistance and few investors or traders should think of profit booking at that level, but once its crossed and sustained above that level, we can see new high soon.
Disclaimer: I am an independent trader and I may or may not trade on calls I generate. The sole purpose of blog is learning and author is not responsible for loss made on trades executed on calls generated here. So take your own trade decision wisely
hope it will cross it soon.....And,....sir, please keep posting much needed infrormations like this....
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