JUMBO closes at $ 362.65 with a fall of -8.0% on 08 July 2011 with formation of Gap Down Candle on Daily Price Chart with Huge Increase in Volume. Technically COALINDIA, looking extremely Bearish on Charts. Major Momentum Indicators are in Bearish zone. Buyer-Seller Force Index,RSI, Ultimate Trend Cycle & Twinggs Money Flow & TAIO are looking Bearish on Daily Price Chart.If it breakes 342, then CIL will see the lower level of 292 in Mid-Term.
We Recommend to SELL - COALINDIA at CMP
Target- 348/342
Stop-Loss – 383
Time Frame- 10-50 Trading Days
Editor’s Note : This Article is written by Vina S Singh, Senior Chartist at www.niftynext.com , which is a Technically Based Quant Research Firm, M/S Durgapur Holdings in Durgapur, West Bengal, India that covers all Stocks, trades at NSE. We use Ami Broker Charting Software with pattern Explorer. You can reach the Chartist here mail@niftynext.com .
Editor’s Note : This Article is written by Vina S Singh, Senior Chartist at www.niftynext.com , which is a Technically Based Quant Research Firm, M/S Durgapur Holdings in Durgapur, West Bengal, India that covers all Stocks, trades at NSE. We use Ami Broker Charting Software with pattern Explorer. You can reach the Chartist here mail@niftynext.com .
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