IGI Logo

Future Outlook

• Coal India posted its highest Q1 production despite heavy rains at some of its mines.

• Its despatches to the non-power sector too was the highest and the Rs 1400bn PSU Giant trades at inexpensive valuations and also has a compelling dividend yield of 8%.

Technical Commentary

• The stock is on the brink of a significant breakout from a falling trendline, indicating a potential shift from bearish to bullish.

• Immediate resistance is present at 245. Successfully surpassing this level could lead to an acceleration of positive momentum in the stock's price.

• Support is visible at 220, serving as a safeguard against downward movements. A breach below this support might empower the bears and potentially steer the stock lower.

• The momentum indicator, RSI, is entering the territory above 60, affirming a bullish bias and suggesting increasing positive momentum.

To Read Complete Report & Disclaimer Click Here

For More  LKP Securities Ltd Disclaimer  http://www.lkpsec.com/

Above views are of the author and not of the website kindly read disclaimer