Just recently there were news about http://www.moneycontrol.com/news/business/odisha-govt-slaps-rs-20169-crore-penalty-on-coal-india-arm-sources-2425715.html, there being some sort of penalty.
WTF is happening?
Coal India has seen a reversal in trend from the last week of September. Maybe what is news to us now has already been factored into the price. Coal India has a support at 280 and 260 levels.
If you were looking for an intraday trade based on yesterday’s news, then just the news will not suffice. You will have to see the price movement on the chart and figure out where buying and selling is taking place.
