BUY COAL INDIA | TARGET: Rs 158 | STOP LOSS : Rs 140
Coal India has corrected over 10 per cent in the last trading week and is trading close to the previous consolidation zone. On the daily time frame, the stock is hovering near its long-term exponential moving average, which even coincides with the lower band of the Bollinger (20, 2), indicating strong support at lower levels. From a risk-reward point of view, the stock is inevitably a BUY and any closure above the breakout zone is expected to trigger momentum in the counter.
