Coal India Share Price Trend – Sell All The Rallies
In the long lasting bull market it became a bit tough to get a good trading scrip as the market is not correcting as it should. Unless and until we get a good correction it becomes risky to enter the trades. Neither the selling candidates are good enough as anytime you can see a short squeeze and you can be trapped. Today I have done a scan with my favourite TTTB Trading System and tried to locate some trading scrips for the coming days. One scrip that caught my attention is Coal India and let me do a Coal India share price trend analysis here.
Coal India Share Price Trend Analysis:
1) Coal India share price trend is DOWN.
2) Coal India is made new 9 month’s low yesterday.
3) New break trough happened yesterday signalling a sell trade.
4) Sell in all the rallies.
Now we need to sell a bad stock in a good time. So we must wait for a rally for initiating the sell trade. When I am writing this post I saw a rally in Coal India share. At just past 1:30 in the afternoon Coal India is trading Rs. 3.60 UP at 282.85 OR 1.29% UP. We can initiate a short.
What Can Be Our Stop Loss?
You can put a stop loss just above 292 as the peak value is at 291.85. So its almost a 9 rupees risk that we need to bear.
What Can Be Our Target?
There is no support seen below in the daily carts. The weekly chart of Coal India shows that the next support below exists around 272. So that can be our target. Intraday traders look for any rally and short. Positional trader go for target 272, in case you can Rs. 4.50 profit, i.e, half of yor stop, book partial and trail the rest with stop loss at cost. You can get TTTB Trsding System free with 3 month’s and above license of Trend Blaster. To get instant access CLICK HERE.