Buy Coal india with stop loss of 286

Coal India Logo

Coal India Ltd has formed Bullish Harami pattern in the candlestick chart. On Friday the stock went up by 3.9% or 11.25 points with volume of 8 Million shares in the National Stock Exchanges. The volume is well above the 10 days average volume of 2.1 Million shares.

On Thursday the stock has made 52 weeks low of 286.50. Any open above Friday’s close can be treated as bullish with stop loss of 286 levels.

Coal India showing Bullish Harami pattern in Candlestick Chart
Coal India showing Bullish Harami pattern in Candlestick Chart

In the future segment, the stock has added 6,14,400 shares in Feb series future. The addition in the open interest and the raise in the stock price can be considered as bullish.

Muthuraj Paulraj

Passionate about investing and trading in Options.