Coal India - Trend

On Daily chart, after making a high of 271, Coal India pulled back from 233 to 252 at 50% Fibonacci retracement level and taking support at 38.2 level; at 248. It has formed a bearish engulfing candle on daily chart therefore possible for bearish downtrend to hit level of 23.6 % i.e. 242.9

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Achieved the target of 242.9;
It closed at 242.3 on NSE