COAL INDIA LTD (COALINDIA): Consolidation and Potential Reversal 🌟
Price Action Overview:
Current price: ₹414.05, trading near a key consolidation zone.
A deep retracement zone has been identified between ₹374–₹394, where buyers are likely to dominate.
Liquidity building in this range may act as a trigger for a reversal.
Key Levels:
Deep Retracement Zone: ₹374–₹394
A critical demand area for long entries.
Stop Loss: ₹360 (Hourly close below invalidates the demand zone and trade setup).
First Target Zone: ₹513 (Historical resistance where profit booking is likely).
Trading Strategy:
Alternate Scenario:
If demand fails in the ₹374–₹394 zone, anticipate a deeper retracement. Avoid entering the trade in such a scenario.
Potential Risks:
Failure to sustain buying interest in the demand zone could lead to further bearish momentum.
Broader commodity sector trends may impact Coal India's price movement.
Disclaimer:
This analysis is for educational purposes only. I am not a SEBI-registered analyst. Please conduct your research or consult with a financial advisor before trading.
#CoalIndia #TechnicalAnalysis #DeepRetracement #SwingTrading #StockMarket #TradingStrategy #MarketInsights #Nifty50 #BSE #NSE #StocksToWatch #Fibonacci
Price Action Overview:
Current price: ₹414.05, trading near a key consolidation zone.
A deep retracement zone has been identified between ₹374–₹394, where buyers are likely to dominate.
Liquidity building in this range may act as a trigger for a reversal.
Key Levels:
Deep Retracement Zone: ₹374–₹394
A critical demand area for long entries.
Stop Loss: ₹360 (Hourly close below invalidates the demand zone and trade setup).
First Target Zone: ₹513 (Historical resistance where profit booking is likely).
Trading Strategy:
- Entry Plan:
Look for buying opportunities within the ₹374–₹394 range, provided bullish price action confirms (e.g., volume spikes, bullish engulfing, or reversal candlestick patterns). - Stop Loss:
Place a stop loss below ₹360 to cap downside risk. - Profit Target:
First target: ₹513.
Scale out of the position or use trailing stops as the price approaches this zone to maximize gains.
Alternate Scenario:
If demand fails in the ₹374–₹394 zone, anticipate a deeper retracement. Avoid entering the trade in such a scenario.
Potential Risks:
Failure to sustain buying interest in the demand zone could lead to further bearish momentum.
Broader commodity sector trends may impact Coal India's price movement.
Disclaimer:
This analysis is for educational purposes only. I am not a SEBI-registered analyst. Please conduct your research or consult with a financial advisor before trading.
#CoalIndia #TechnicalAnalysis #DeepRetracement #SwingTrading #StockMarket #TradingStrategy #MarketInsights #Nifty50 #BSE #NSE #StocksToWatch #Fibonacci
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.