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Coal India

Writer: Shivam M. DaveShivam M. Dave

Updated: Sep 2, 2022

Sector- Mining and Mineral Products

Market Capitalization- Rs 99035 Cr.


As the weekly charts indicate, Coal India was in a multiyear downtrend. After losing a lot, it looks as if the whole PSU pack with Coal India are ready to roar back.

A few things to note:

  • An RSI positive divergence is observed, showing relative strength on the charts

  • The point where the price action touched the primary long trendline is where the positive divergence made a complete, giving two indications of going long on this scrip

  • MACD is well placed

  • The 10-day EMA is crossing the 50- and 100-day EMA from below, again showing strength on charts.

  • A pullback/selling pressure may be observed here are 160 has been a resistance for the scrip.


A buy once 160 is crossed is advised Target- 240+ Open

 
 
 

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