Coal India - Trend reversal
One of the most hated stocks since its IPO as it has only fallen. I have been bullish on this stock since lower levels coz of the world unrest and coal shortages spiking up e-acution premiums for this company. The KEY trend reversal will come when govt increases FSA prices which Coal India has been demanding since over a year now coz its wages and RM costs have gone up. They have been at peak production from their side so they are doing everthing in the power to give out strong financial numbers in a market with tons of tailwinds for them.
Technically after AGES the stock has crossed above the 200WEMA. Now its almost at the AVWAP of this entire downmove. If it can cross this also which has been a BIG resistance since the start of this downmove we could see a complete trend reversal in this company.
Long above 198 with SL below the 200WEMA which is 185.
Technically after AGES the stock has crossed above the 200WEMA. Now its almost at the AVWAP of this entire downmove. If it can cross this also which has been a BIG resistance since the start of this downmove we could see a complete trend reversal in this company.
Long above 198 with SL below the 200WEMA which is 185.
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