An idea i had shared a couple months back (Mid-July) but the buy price never came (150.50) so the trade never triggered. Since then coal prices have increased by close to 15-17% which Coal India still has not moved.
Because this is one of those heavily compressed stocks by bears most of the time this one needs to be played with abundant caution.
take a 40% position above 148.75 and the balance as previously mentioned abovw 150.50.
Initial SL 142 and then if 150.50 triggers shift it closer to 147.
If this breaks out like it should purely based on being super undervalued plus strong tailwinds in the sector there will be a HUGE short covering rally.
Watch this space closely.
Because this is one of those heavily compressed stocks by bears most of the time this one needs to be played with abundant caution.
take a 40% position above 148.75 and the balance as previously mentioned abovw 150.50.
Initial SL 142 and then if 150.50 triggers shift it closer to 147.
If this breaks out like it should purely based on being super undervalued plus strong tailwinds in the sector there will be a HUGE short covering rally.
Watch this space closely.