Coal India is the last stock traders can get interested in a momentum market. It's a boring out of favor stock. But every stock becomes interesting at some point in time. Coal India deserves some attention right now of everybody especially people who seek low risk stable returns.
Just Look at the Coal India Chart
Coal India is trading at its lowest level in years and also at a very reliable support level.
Coal India stock is not only trading near a reliable support level but it's also trading at a level that makes the stock a good dividend yield play. With Mutual funds facing the problem of plenty, it will not surprise me if money starts entering this stock. This will provide ample support to the stock at this critical juncture. The stock might not have huge upside but at this point of time, downside looks limited. Having said all the above - there is nothing certain in the market. There has to be really strong reason for stock to break 240.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers