Mar 18, 2013 04:54 PM IST | Source: CNBC-TV18

Coal India may slip to Rs 280: Chaturmohta

Ashish Chaturmohta, Fortune Equity Broker is of the view that Coal India may slip to Rs 280.

Ashish Chaturmohta, Fortune Equity Broker is of the view that Coal India may slip to Rs 280.

Chaturmohta told CNBC-TV18, “It looks weak because Coal India has been continuously consolidating at a lower level and at that point we have seen a very strong accumulation of shorts in this stock. Breaking this Rs 300 level again a fresh weakness may start and we may see the stock cracking towards Rs 280 levels. So, definitely looks quite weak and Rs 307-308 could be the stop loss for going short in Coal India at this point in time.”

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