COAL INDIA
- As per previous report published on COAL (I) stock failed to breaks it support @ 348 and bounced back & made a high around 385. (Click here to see previous report published on COAL (I)).
- Now as per current technical chart no1, coal (I) is heading to test its 38.2% fibonacci retracement support, if breaks and stays below 348 then stock will be favored bears for next few trading days. Will find next support around 333 its 50% fibonacci retracement.
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- Intraday tips - Close watch once stock starts trading below 348, if holds below 348 then intraday bearish action is expecting.
- As per graph no2, stock is coming down from 50% fibonacci retracement and now trading below 50 days moving average , this indicates stock will be favored by bears as long as trading below 50 DMA.
- Also See - BANK NIFTY is on bull move after breaking its major resistance, further strength expecting in coming days.
- Also see - NIFTY FUTURES is moving in up channel pattern, will be favored by bulls.
- Even in weekly chart , Coal (I) has formed bearish candle , this indicates we may see strong weakness once COAL (I) stays and closes below 348. Close Watch.
- Click here to see all the free trading reports (tips) published by us on COAL India.
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