Buy Coal India: Sudarshan Sukhani

Sudarshan Sukhani, s2analytics.com advises to buy Coal India.
 
Sukhani told CNBC-TV18, “Coal India would be a buy. Coal India has been bottoming out. It has not broken out of the lower highs or lower lows formation. It has not done that, it is not important. Much more important is the context. The context is that the broad market is moving up and Coal India itself is now giving us a base. So it is on the verge of a base breakout. We can anticipate it and go long. It is probably a low risk trade for the buyers.”
 
Coal India touched its 52-week high Rs 386 and 52-week low Rs 291.20 on 17 September, 2012 and 19 March, 2013, respectively. Currently, it is trading 19.4 percent below its 52-week high and 6.83 percent above its 52-week low. Market capitalisation stands at Rs 196,502.10 crore.