Saturday, January 18, 2014

Coalindia Technical Analysis

Hi friends,
                   Today i have coal india chart ,I would analyze this stock according to wave analysis.
Have a look at the following chart which is of daily time frame.
From july end 2011 high this stock started complex correction ,Red labeling wxy.
We have seen complex correction takes time this stock from a high of 400+ went all
the way to 240 in 2 years time frame where a big WXY ended.
Lets look at the structure closely from 240 onwards look at the following chart.
 We have already seen abc twice which suggests a triangle underway or a flat correction.
We have to see the structure of this currect move from 307+ to figure out whether a triangle
is on,If its a triangle the fall should not exceed below 260 and should reverse up.Keep this stock on
radar nice trending move would be underway once triangle or flat correction gets over.
One more important reason to track this stock this stock mostly remains unaffected by nifty move.



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