Coal India expected to give 10% in the coming days (Technical Analysis Mumbai India Trading.)

For full month of February Coal India is in a severe downtrend. We have been tracking this stock for the complete month of February to see signs of reversal. And today we have a great confirmation of a reversal.

Below are the technical charts which have given us confidence to take positions in Coal India for the coming 15 days.   

The first thing which has given us confidence is Doji with the confirmation. 

The second confirmation is the break of one month downtrend line. When a trendline is broken with a candlestick pattern it has great importance and high probability of success.

At these levels there is a great support line which was tested in the first week of February.

And finally the RSI and ADX are showing great signs of recovery. So you can take positions today for a first level profit of 5% and second level profit of 10% in the coming days. 

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