Coal India Moves Uptrend Over News of Offering Thermal & Coking Coal Contract for Non Power Sector

Shares of Coal India Ltd today saw over 2% increase in value as news hit market about plans to offer a mix of 30 million tonnes of thermal and coking coal at its recently announced fourth tranche of long-term supply contract for the non-power sector. The scrip reached an intra-day high of 270.20 and closed at 265.15 with 2.37% increase in value in NSE. RSI indicator which is used to measure the momentum of stock based on speed of change in stock price regardless of direction in which price moves is currently in range of 37 to 54 as the signal line continues to move in neutral region with a slight upward incline supportive of existing momentum for upward price growth.

Parabolic SAR indicator and ADX crosses indicator which are used to identify good points of entry and exit have both formed bullish signals in intra day and weekly charts supportive of continued uptrend price growth in near future trading session. Similarly Zig Zag indicator which is used to predict reversal of trend in longer time frame without being influenced by any short term volatility has also formed uptrend indication supportive of continued bullish price movement. Expected support and resistance levels for the stock for the week are at 257.15 and 278.26 respectively.

View Full Artcile With Comments

Coal India On Uptrend Movement Post Q4 Result

Shares of Coal India Ltd has been on bull run for past two trading sessions after announcement of its Q4 results. The scrip reached an intra-day high of 292.50 and closed for the day at 289.05 with 2.37% increase in value in NSE. RSI indicator which is used to measure the momentum of stock based on speed of change in stock price regardless of direction in which price moves is currently in range of 47 to 65 as the signal line continues to move in neutral region with a slight upward incline supportive of existing momentum for upward price growth.

Parabolic SAR indicator and ADX crosses indicator which are used to identify good points of entry and exit have both formed bullish signals in intra day and daily charts supportive of continued uptrend price growth in near future trading session. Similarly Zig Zag indicator which is used to predict reversal of trend in longer time frame without being influenced by any short term volatility has also formed uptrend indication supportive of continued bullish price movement. Expected support and resistance levels for the stock are at 294.74 and 272.60 respectively.

View Full Artcile With Comments

Coal India on Uptrend Movement Over News of Supply Boost

Shares of Coal India Ltd was on uptrend movement today post news of company’s plan to increase supplies by at least 15 million tonnes annually in the next few weeks, with three new rail projects linked to high-capacity mines almost complete. The scrip reached an intra-day high of 279.90 and closed for the day at 279.05 with 3.26% increase in value in NSE. RSI indicator which is used to measure the momentum of stock based on speed of change in stock price regardless of direction in which price moves is currently in range of 48 to 78 as the signal line continues to move well inside overbought region across intra-day, daily, weekly and monthly charts supportive of upward momentum in near future trading session.

Parabolic SAR indicator and ADX crosses indicator which are used to identify good points of entry and exit have both formed bullish signals in intra day and daily charts supportive of continued uptrend price growth in near future trading session. Similarly Zig Zag indicator which is used to predict reversal of trend in longer time frame without being influenced by any short term volatility has also formed uptrend indication supportive of continued bullish price movement. Expected support and resistance levels for the stock are at 257.20 and 281.71 respectively.

Image : 1 hr intra-day data from MCharts MT4 Platform

View Full Artcile With Comments

Coal India Shares Make a Bull Run As Cabinet Announces Private Coal Mining To Be Allowed in India

Shares of Coal India today saw over 1.83% increase in value in value. This bull run can be attributed to two major factors – a positive Q3 financial data with 10% increase in profit on QOQ basis and announcement made by cabinet today allowing commercial mining to be undertaken by private entities which is expected to greatly revolutionize the industry and end the company’s monopoly which is expected to result in the state owned organisation making vast improvements in infrastructure and also maintain a minimum amount of assured coal supply around the year in affordable price range which would also greatly help with power production industries as majority of Indian Electricity still relies on thermal power plant which uses coal as main fuel source.

Bill William’s Alligator indicator which is used to identify formation of a trend has made bullish crossover across minute & hourly intra-day charts as well as daily , monthly and weekly charts thereby supporting formation of new uptrend formation.  Parabolic SAR indicator which is used to identify good entry and exit points has also formed uptrend indication across charts of all time-frame mirroring alligator indicator which strongly supports high probability for uptrend movement of stock in immediate and near future trading sessions. RSI indicator which is used to measure the momentum of stock using signal line which is calculated based on speed of change in stock price is currently moving within range of 45 to 64 across all time frame and continues to move uptrend supporting bullish growth in stock value.

The stock has already managed to breach resistance levels maintained for majority of last year and move on into new uptrend movement although the momentum has turned range bound in last 30 trading sessions. However a positive Q3 data and latest reform made by govt are expected to be of positive influence on company’s growth. Expected support and resistance levels for the stock are at 299.11 & 311.86 respectively. If the stock manages to break two months resistance average price level of 311 and moves on to 312 and above we can expect stock to make new leaps in uptrend price movement.

Image : one hour intra-day data from MCharts MT4 Platform

 

View Full Artcile With Comments

Coal India Stocks Gain Over 6% On Revision Of Non-Coaking Coal Prices

Shares of Coal India Ltd today morning saw over 6% increase in NSE and BSE post update released by the company on revising price of non-coking coal by 9% during a board meeting held yesterday. The stock is currently trading in NSE at 304.70 and is expected to see slowdown in momentum during later half of trading session today. While long term trend indicators ZIG ZAG and MACD have maintained uptrend signals in candle chart across morning session, intra-day min candle charts show signs of slow down in uptrend growth.

ADX crosses indicator has formed multiple downtrend correction arrows in both 1 min & 5 min chart after the candle hit today’s high where we can see blow arrows indicating to stock’s multiple attempts at gaining uptrend momentum. However profit booking across morning session has skimmed of significant part of growth from stock’s uptrend movement. We can expect stock to take a range bound movement during rest of today’s trading session. Immediate support and resistance for stock are expected at 286.45 and 313.85  respectively.

Image : 5 min candle chart from MCharts MT4 Platform

Image : 4 hrs candle chart from MCharts MT4 Platform

View Full Artcile With Comments

Coal India Stocks On Uptrend Momentum

Shares of Coal India Ltd have been trading uptrend for last 5 consecutive trading sessions. The stock today rose over 2.45% and is currently trading at 278.50. Short term trend and price indicators Parabolic SAR & ADX crosses have both maintained bullish indication for last 5 consecutive trading sessions in 4 hours intra–day chart indicating further uptrend growth for the stock in near future. Long term trend reversal indicator ZIG ZAG which shows exact point of trend reversal has maintained uptrend sign for last 8 consecutive trading sessions which supports uptrend momentum of stock indicating a stable growth in sessions to come.

However FXTT MTF TripleMA indicator which shows fast, medium and slow moving average of stock movement for three selected time frame onto a single chart shows convergence of all moving average lines across multiple time frame such as thirty minutes, four hours & one day near a single point indicating signs of slow down in growth and possibility for range bound momentum to continue across trading sessions in near future. RSI indicator which predicts momentum of stock based on rate of change in stock price movement is in overbought zone ( above 70 ) further adding support to possibility of range bound movement. Expected support values for stock are at 265.92 & 255.31 and resistance values are at 282.36 & 288.42 respectively.

Image : 4 hours intra-day data from MCharts MT4 Platform

View Full Artcile With Comments

Bull Run for Coal India With 2% Value Increase

Coal India Ltd is one of the bull stocks expected to cap the downtrend movement of nifty for the day. While major stocks have taken a downtrend movement due to negative global cues , some stocks are still in local traders bingo books for the day and Coal India  seems to be among them evident from its bull run since the market has opened for the day.

Coal India started for the day with an increase in value of Rs. 01 and has increased about Rs. 05 so far in the morning trading session , the stock has crossed its support value of Rs. 239.06 and is on uptrend movement with no immediate resistance , the upper limit of this bull run is expected to reach at Rs 246.01 on first level and if the bull run still continues the second upper limit or final resistance for the day is expected at 249.43 , however based on the LTP and results from buy and sell trade volume activity we can estimate the price to gain stability in bull run at Rs 245 or Rs 246 near intra day session.

 

View Full Artcile With Comments

Hindalco, Bharat Petroleum & Reliance Industries – The bulls to look into for today

While Nifty and Sensex are trading downtrend since market opened for the day, a favorable local economy has helped keep the downtrend movement in check with various sectors still continuing to perform well since the trading sessions began.

The sectors that have been trading uptrend since the trading session begun are energy , metals , media and automobile sectors. The stocks that have capped the bearish movement of nifty and the stocks to look out for the day are : Coal India , Bharat Petroleum Corporation Limited , Reliance Industries Ltd, Oil and Natural Gas Corporation Ltd, Hindalco Industries.

These stocks are expected to see a minimum increase of 0.30% to 0.35% in their value near End of day with an uptrend movement across both morning and afternoon trading sessions.

View Full Artcile With Comments

EOD Overview – 19.07.2017

Today’s market movement was uptrend as predicted with a stable bullish performance. Nifty 50 took a steady climb uphill and closed well below resistance with a 0.74% increase in value at 9899.60 and  this uptrend movement can be expected to continue when market opens tomorrow.

Top gainers for the day are  AUROPHARMA and COALINDIA with an increase in value of 4% & 3% respectively, top loser for the day is ULTRACEMCO with a 2.79 % decline in value.

The most traded stock for the day in terms of quantity and value are JPASSOCIAT with a total number of stock volume traded reaching  20,84,78,959 and ITC with a total value of stocks traded for the day reaching 1,13,465.89 in lakhs.

View Full Artcile With Comments