Coal India Elliott Wave Analysis: Trend Still Intact?

Elliott wave analysis, when combined with basic price action studies, helps create high-probability trade setups with greater accuracy by aligning price structure with timing, allowing traders to identify stronger entries, better risk control, and more reliable market reversals.

Check out the below research on Coal India--

COALINDIA Weekly chart as on 30-04-2026

Analysis -

• The stock has been in a strong uptrend since late 2020, consistently forming higher highs and higher lows, which reflects sustained bullish momentum despite intermittent corrections.
• Prices have broken above the minor prior swing high of 475 level and is now heading higher.
• Additionally, the stock continues to respect its multi-year upward sloping trendline. Each time it approaches this trendline, it finds support and rebounds, highlighting consistent accumulation at lower levels.
• The most recent support was observed near the 380 mark around 8^th December 2025, after which the stock has witnessed a steady upward move, reaffirming the validity of this trendline.

Wave perspective:

• From an Elliott Wave standpoint, the stock completed its Intermediate Wave (5) on 12^th February 2024 and also marked an end to wave [1] by forming a new high. This was followed by a corrective phase identified as Wave A of wave [2].
• Subsequently, the stock surged to a new all-time high of 55, which appears to be an exhaustion move driven by strong buying interest and is labelled as Wave B of wave [2].
• Recently wave C got completed near the trendline support and also marked an end to wave [2] and now fresh leg is expected to begin on the upside in the form of wave [3].

In Nutshell

• The broader structure of Coal India remains bullish, with intermittent corrections acting as healthy pullbacks that offer opportunities for traders to participate in the ongoing trend.
• For now, one can use dips as an opportunity to ride the ongoing

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