A buy signal was issued from a pivot bottom point on , and so far it has risen 1.79%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Coal India Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹459.71 and ₹487.79. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).Hyderabad Investment
Coal India Limited finds support from accumulated volume at ₹445.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹10.55 between high and low, or 2.37%. For the last week, the stock has had daily average volatility of 3.17%.Jaipur Investment
Our recommended stop-loss:
₹423.76
(-5.74%)
(This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
For the upcoming trading day on Thursday, 31st we expect Coal India Limited to open at ₹450.13, and during the day (based on 14 day Average True Range),
to move between ₹436.66 and ₹462.44,
which gives a possible trading interval of +/-₹12.89 (+/-2.87%) up or down from last closing price.
If Coal India Limited takes out the full calculated possible swing range there will be an estimated 5.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹445.60 (0.88%)
than the resistance at ₹488.75 (8.72%),Jaipur Investment
our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Coal India Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Lucknow Stock