Daily charts of Coal India show a positive divergence with MACD Histogram.
The stocks seems to have traced a bottom at 320 levels.
The stock can be looked for a trade on a 2-3 days span.
Also, it bucked the Sensex yesterday rising 2.8% confirming the positive momentum.
After TCS and HCL declared results yesterday, the markets again seem to pullback in the channel formed before. So its a wait and watch time till the next breakout above 17250. This level is proving to be a solid resistance zone.
ING Vysya mentioned in earlier post has given a nice bounce. Consider moving the stoplosses further with every increase in price hence or partial booking of profits
The stocks seems to have traced a bottom at 320 levels.
The stock can be looked for a trade on a 2-3 days span.
Also, it bucked the Sensex yesterday rising 2.8% confirming the positive momentum.
After TCS and HCL declared results yesterday, the markets again seem to pullback in the channel formed before. So its a wait and watch time till the next breakout above 17250. This level is proving to be a solid resistance zone.
ING Vysya mentioned in earlier post has given a nice bounce. Consider moving the stoplosses further with every increase in price hence or partial booking of profits
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