Sell Coal India: Sudarshan Sukhani

Sell Coal India, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, “Coal India has been in our selling list. It is making a pattern of lower highs-lower lows. That is not a good pattern to be in. It is also not able to cross its previous highs. It is breaking down from earlier support levels although mildly but it is a selling idea. It is nothing we want to buy.”
The share touched its 52-week high Rs 386.00 and 52-week low Rs 305.75 on 17 September, 2012 and 18 May, 2012, respectively.Currently, it is trading 12.15% below its 52-week high and 10.91% above its 52-week low.
The latest book value of the company is Rs 30.97 per share. At current value, the price-to-book value of the company was 10.95. The dividend yield of the company was 2.95%.