1. The recent annual report by Refex ind , we have seen the positiveness of the promoter about his confidence in the growth in all verticals of the company.
2. Promoter aims to grab further marketshare as well as enter into energy trading business.
3. The decision by coal India to increase coal prices to counter inflationary trend and increase in wages required would also help refex to grow it's topline.
4. The nationwide shortage in coal stock would put pressure on power producing unit to increase stock and hence increase topline growth of both coal India and refex.
5. In view of above I forsee a long term breakout in Coal India above 195 and refex would breakout above 175 to reach 240-250 levels by Nov end to 350-400 before June 22.