Coal India – Accumulation Phase almost completed, Ready for RUNCoal India – Accumulation Phase almost completed, Ready for a Bull Run.
Entry – CMP
Stop loss – 137.1
Target 1 – 288.5
Target 2 - 441
Duration - 4-5 years
Small resistance between 237.6 to 288.5
All numbers are *Weekly* based
Fundamentally, all numbers are too good, no issues at all and Co is cheaply valued too with 8% as Dividend Yield.
Technically, Accumulation has happened in last 10 months and Weekly breakout level can be above 155.5, Sustaining above this Level can give a good Run UP.
As per below Calculation, Public Holding in Coal India is around 5.45% and more or less Accumulation Phase of this stock is almost completed.
Around 959crs more will be required and there will be shortage of Coal India Stocks in market
Monthly avg volume : 336 (in mill)
Average Price last few months : 127 (rs)
months of Accumulation : 10
Value of Accumulation : 426720 (1*2*3)
converted millions to crs : 42672
Average Delivery % : 20%
Deliverable Qty : 8534.4 (5*6)
Market Cap on 11-05-2021 : 95,888
Deliverable Qty % : 8.90% (44415)
Assuming 50% of Deliverable Qty is Sold again : 4.45%
Public holding : 5.45%
Pending for Accumulation : -1.00% (`10-11)
Value Pending for Accumulation in CRs Rs : -959 (`12*8)
Last 2 days volume is worth 1720 crs so accumulation of 959crs worth of shares should not be a difficult task
Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.
