# Coal India has taken support at a trend line and 50 wk avg line and formed a Morning Star pattern (reversal pattern) # Formed a lower low # 9 wk high volume # Strong closing on Friday and week in spite of 3.5/- ex dividend this week. # Fundamentally on growth side there is both price and volume uptick expected post monsoon on coal front, so the market should start pricing in better earnings and dividend in FY-22 and FY-23 # valuation wise the stock is trading at just 6 times FY22 EPS and a dividend yield of 9-10% whereas fixed deposits are earning 5% for 1 year # The bull market is expected to pull the PSU stocks along as that section is very cheap compared to rest of the market. The narratives will follow.
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