coal india share price daily chart technical analysis
coal india share on last trading session closed at 294 with gains.on daily chart coal india share trend and momentum both bullish and above 275 keep buy on dips trading strategy for this share.
289 is week average support and 275-278 is month and 3 month average range and major support from short term view.while on upside 300-325 are major resistance zones on daily chart.
on indicators,momentum is bullish and suggesting current rally after correction may show new upside levels.
here traders buy near 280-285 zone with stoploss below 270 and keep target at 320-325.
coal india share price weekly chart technical analysis
coal india share on weekly chart showing flat gains in this week.in last 3 weeks recovered from 248 low to now almost near 300.
on weekly chart,coal india share trend is down but momentum on recovery side.on upside 302 is 12 month average and major resistance and above that 312 is 2 years average level.on downside 289 is 6 month average and first support for this share.
from medium term view,270-280 zone is entry zone and 240 remain as stoploss and keep target at 315-345.
coal india share price monthly chart technical analysis
coal india share on monthly chart showing huge gains in month of sep on account of recovery from bottom.on upside 305-310 is major averages zone and remain as strong resistance or supply zone.
on downside 240 is temp bottom for now.in 2010 opened around 263 in IPO and rallied upto 391 which is life high for now.while 234 is life low for coal india share.
coal india is India’s blue chip company and with unique model.must keep in long term portfolio.currently trading with 1.6 lakhs market cap!!
my personal view is investors keep accumulating in between 130-220 zone on any major correction.that will be undervalue zone from long term view.on upside i expect 400-490 levels in next 1-2 years time frame.last dip upto 234 was best buying opportunity!!
for year 2013,below 330 may remain bearish and may show downside levels upto 200 so best buying opportunity!!