Tuesday, July 14, 2015



COAL INDIA has been resisted for years at 422-424 levels. Looking at below weekly chart, it looks stock made CnH pattern with larger data. It looks stock changed its trend by breaking resistance at 423 levels. Keep buying the stock in every dip. We may see a good move towards 600 levels going forward. It may take some time to reach these targets. Those who can hold the stock for longer time can buy the stock at CMP or in every dip with Previous swing low as SL.

Stock made 185 Points Cup size and 50% retrace of it as Handle. So it looks like a valid formation.
It may take three to 6 months to make these targets.

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