Technical Analytics

Year End Review –COAL

The Government has taken several steps to further push the progress made by Coal Ministry in the last year. In line with the Coal mines auctions of 2015, the auction and allotment proceeds from 83 coal mines allocated so far and estimated at more than Rs 3.95 lakh crore over the life of the mine / lease period, which shall be devolving entirely to the coal bearing States. The actual revenue generated from these coal mines up to Oct’16 is 2,779 crore (excluding Royalty, Cess and Taxes). The benefit to consumers in terms of reduction of electricity tariff from auction of 9 coal blocks to ‘Power’ Sector is likely to be about Rs. 69,310.97 crore.

The production of raw coal in the country during April-November of 2016-17 was 391.10 Mte compared to 385.11 Mte during the corresponding period of previous year. The overall growth in Coal production during April- November 2016 was 1.6 %. Lignite mining capacity of NLCIL is 30.6 Million Tonnes per annum as on 30.11.2016. The company has enhanced its power generating capacity from 4275.50 MW (as on March 2016) to 4293.50 MW inclusive of 10 MW Solar and 43.50 MW wind power.

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Price Channel:-

Though the name doesn't tell us much, it is a type of rectangular pattern with positive or negative slope. If it is a positive slope, it is said to be a bullish price channel whereas if it is a negative slope, it’s called a bearish one.

Both the above two channels have the same support – resistance lines what we have seen in our previous rectangular patterns. Also, the rule remains same in the trade initiation. Negative slope channel looks forward to gift you a good short trade whereas a positive slope channel outbreaks for a long trade.