Better days for Coal India ahead!

This stock is often overlooked
It is a part of Nifty-50, and major weightage in Nifty-Metal Index as well.
It seems it is time that we get our eyes on this counter again

The line drawn in the chart is a regression line for Coal India. It is downward sloping currently.
But notice that price has closed above the regression line on the weekly charts.

If we see the last 4 candles on weekly charts, we observe this:-
- All four are green candles
- Body-size of candles in increasing (getting larger and larger)

Bollinger band expansion bodes well for the stock in the near term.

Volume: If we see the past 2&1/2 -3 years volumes, they have been much higher as compared to the periods prior to 2018
Another way to convey this volume strength is that "long-term volume averages are at/around lifetime highs"


Recent Coal Shortages, elevated coal prices, prevailing inflationary trends are also tailwinds for the stock
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ABOVE VIEWS ARE PERSONAL. PLEASE CONSULT YOUR FINANCIAL ADVISORS BEFORE INVESTING
I AM NOT A SEBI REGISTERED ADVISOR
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