{"id":6421,"date":"2022-01-13T12:44:42","date_gmt":"2022-01-13T07:14:42","guid":{"rendered":"https:\/\/www.tickertape.in\/blog\/?p=6421"},"modified":"2022-02-22T11:09:55","modified_gmt":"2022-02-22T05:39:55","slug":"coal-india-will-we-get-a-diamond-from-this","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/blog\/coal-india-will-we-get-a-diamond-from-this\/","title":{"rendered":"Coal India: Will We Get a Diamond From This?"},"content":{"rendered":"\n<p><em>Kunal Rambhia is a Fund Manager at The Streets (a private fund). He has been in the <a href=\"https:\/\/www.tickertape.in\/blog\/what-is-equity\/\">equity<\/a> market since 2010, in various roles ranging from Associate Research Analyst, to Research Analyst and Associate <a href=\"https:\/\/www.tickertape.in\/blog\/portfolio-manager\/\">Portfolio Manager<\/a>. Kunal&nbsp;has media appearances on CNBC and ET NOW, and is a visiting faculty in multiple colleges.<\/em><\/p>\n\n\n\n<p>Herein I share my views on <a href=\"https:\/\/www.tickertape.in\/stocks\/coal-india-COAL?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" target=\"_blank\" rel=\"noreferrer noopener\">Coal India<\/a> on different timeframes. Kindly note that views are more on higher timeframe charts, which supports the positional approach.&nbsp;&nbsp;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tickertape.in\/blog\/coal-india-will-we-get-a-diamond-from-this\/#Monthly-Chart-price-action-with-Reverse-Fibonacci-application\" title=\"Monthly Chart (price action with Reverse Fibonacci application)&nbsp;\">Monthly Chart (price action with Reverse Fibonacci application)&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tickertape.in\/blog\/coal-india-will-we-get-a-diamond-from-this\/#Weekly-chart-price-action-with-Volumes\" title=\"Weekly chart (price action with Volumes)\">Weekly chart (price action with Volumes)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tickertape.in\/blog\/coal-india-will-we-get-a-diamond-from-this\/#Weekly-chart-with-RSI\" title=\"Weekly chart with RSI\">Weekly chart with RSI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.tickertape.in\/blog\/coal-india-will-we-get-a-diamond-from-this\/#Weekly-chart-with-Ichimoku\" title=\"Weekly chart with Ichimoku\">Weekly chart with Ichimoku<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.tickertape.in\/blog\/coal-india-will-we-get-a-diamond-from-this\/#Weekly-trendlines\" title=\"Weekly trendlines\">Weekly trendlines<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.tickertape.in\/blog\/coal-india-will-we-get-a-diamond-from-this\/#Putting-it-all-together\" title=\"Putting it all together\">Putting it all together<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Monthly-Chart-price-action-with-Reverse-Fibonacci-application\"><\/span><strong>Monthly Chart (price action with Reverse Fibonacci application)&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/SDchYDYdk_muyPCw8BuEWysjesVpdoT0fopwt5-p4Lr95f-6QQJCiERo91NDJliAKToQKhRMosZlVno2okd43ap3jVfIZKgMtF0LzSx2goJMa2s_RCDkZ-jHDVQ97wRP0Wq4xkwG\" alt=\"\"\/><\/figure><\/div>\n\n\n\n<p>Stock price movement is captured from 2011 onwards. Counter remained in a downtrend since 2015. But it has reversed exactly from the 1.618% reverse retracement on the monthly chart, confirming a possible decent bottom in place.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-chart-price-action-with-Volumes\"><\/span><strong>Weekly chart (price action with Volumes)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/keSPoYjTo0YaeHXtmKY3tDAQN2lDSaey6mdgxlrDUoUcEQQphpDtZekQI5Y-nEaR49RnkIgrjOK-qjUHDLFZ354UHFtdw-n9x4kD1fUECfG9X1E9LYqdgnI4J9b3vMfIvr4uU5xU\" alt=\"\"\/><\/figure><\/div>\n\n\n\n<p>After a massive and consistent downfall, the price seems to be making a good base (consolidation) for more than 1.5 yrs with massive <a href=\"https:\/\/www.tickertape.in\/blog\/on-balance-volume\/?utm_source=blog&amp;utm_medium=article&amp;utm_campaign= https:\/\/www.tickertape.in\/blog\/volume-in-stock-market\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">volume<\/a> activity. Recently, for the first time during August 2021, the price came out of consolidation with huge volumes and confirmed the possible end of a downtrend.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-chart-with-RSI\"><\/span><strong>Weekly chart with RSI<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/N5YaOZ7g5yuzmilnd3hLhLDGGDiiVMemEuXK90vYtqFDeS6wgCcsplqD7QUKp-7Yrgcnzmm_l11wUUShZ0NO1nU2AMChbOCqxX2J-JKdDiR2UjhcnzPO3GXCCvCYXdnCPraq3dYh\" alt=\"\"\/><\/figure><\/div>\n\n\n\n<p>In the last one and a half years of consolidation, <a href=\"https:\/\/www.tickertape.in\/blog\/relative-strength-index\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">RSI<\/a> seems to be forming higher tops and higher bottoms, which confirms accumulating strength. Also, RSI is trending well above 50 zones after hitting extreme highs, confirming accumulation by strong hands.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-chart-with-Ichimoku\"><\/span><strong>Weekly chart with Ichimoku<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/a3ThzJ0KOBJSR8VMBRemjdOkAqxd5LwlIB9rYsE_z-Gv4ZhTPCkoRhVS7xAm8ZZzNAcWFOkqI8_XXI38Vu7a4U-8ILE42gd2MIo0y3W_v3Pu2TDXQixbXCuAbZYKU6vOTXlQrKUc\" alt=\"\"\/><\/figure><\/div>\n\n\n\n<p><a href=\"https:\/\/www.tickertape.in\/blog\/ichimoku-cloud\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">Ichimoku cloud<\/a> continuously offered resistance to the counter for years. Of lately, after making long consolidation bottom, the counter broke above the cloud, took the support of the cloud and remained clearly above the same. That confirms the change in trend. Also, the future cloud is showing expected positivity going forward. Summing up on indicator, it shows trend change with add on strength.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-trendlines\"><\/span><strong>Weekly trendlines<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/n5OGUuj9QD91tu1B_RfjwMc6Qp-VAfsxFiGRF5aqH47anjhu4V7Tpn4qLe1G5UTI0xfAfEi1wadKGcftE7BYQFllVgDt8sCBG7kr3D2lF9a_PNtw8TBAglIQgJ2FKnPHVAmWu1F3\" alt=\"\"\/><\/figure><\/div>\n\n\n\n<p>Trendline is plotted right from the top of the chart. It offered perfect resistance till 2021. This trendline was of great importance as it lasted well for almost 6 yrs. Recently, the price broke above the resistance line, retested the breakout zone and is now showing a <a href=\"https:\/\/www.tickertape.in\/blog\/bull-market-investing\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">bullish<\/a> candle. Formation in the recent price action is expending rising wedge, which is bullish in nature and confirming limited downside.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Putting-it-all-together\"><\/span><strong>Putting it all together<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>After looking at the monthly extreme bottom on 161.8%, weekly Ichimoku and strength using RSI, price action, consolidation and price pattern, the downside seem limited on the counter. One can keep a check on the counter for sizeable upside.<\/p>\n\n\n\n<p><em><strong>Statutory Disclosure:<\/strong> Kindly note that this update is only for educational purposes. It is safe to assume that my personal position, my fund\u2019s position and my clients\u2019, as well as relatives and friends positions, may be open in the counter. It is better to take the advice of your financial adviser before initiating any position.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kunal Rambhia, Fund Manager at the Streets, shares his positional views on Coal India on different timeframes.<\/p>\n","protected":false},"author":73,"featured_media":6423,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[9,1749],"tags":[1183,1127,297],"acf":[],"modified_by":"Aradhana Gotur","jetpack_featured_media_url":"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2022\/01\/TT-13-Jan-COAL-INDIA-Kunal.jpg?wsr","_links":{"self":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/6421"}],"collection":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/users\/73"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/comments?post=6421"}],"version-history":[{"count":6,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/6421\/revisions"}],"predecessor-version":[{"id":6428,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/6421\/revisions\/6428"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media\/6423"}],"wp:attachment":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media?parent=6421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/categories?post=6421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/tags?post=6421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}