COAL INDIA Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock moving in a down channel formation, will favor bears, further weakness expecting once COAL starts trading below 352.50. (Updated On 28th August 2014, Thursday).

COAL INDIA

• As per previous report published on COAL INDIA, stock gave a sharp bull move as moved up from support @ 353 as menton in our previous report of Coal India and stock made a high @ 393 after that. (Click here to see previous report published on COAL India).
• Now current charts indicates that stock is moving in a down channel formation, so as long as stock trades below it will be favored by bears and we can see sharp bull move whenever stock breaks it down channel on up ward side. Till then bear will dominate. As marked in chart no1 how buying and selling happening as soon as stock touched its support and resistance trend line.
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• As per graph no 2 Stock is coming down from 23.6% fibonacci retracement and 50 days moving average, so as long as stock trades below it will be favored by bears, 50 DMA paying an important role in Coal (I), so whenever stock closes above 50 DMA it will show first sign of strength.
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• As per graph no3, stock is currently testing 38.2% fibonacci retracement support , once COAL closes and stays below 352.50 then bears will have strong grip for next few trading days.
• Free intraday tips , close watch when stock starts trading below 352.50 during market hours, if holds below then intraday weakness in expecting.
• Click here to see all the free trading reports (tips) published by us on COAL India.
• Trading tips.