One can buy Coal India with a stop below Rs 290, says Sudarshan Sukhani of s2analytics.com. At 12:19 hrs Coal India was quoting at Rs 303.55, up Rs 3.80, or 1.27 percent.
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, " Coal India has disappointed with a very sharp decline. However, I wouldn’t be a seller in Coal India. My sense is that we are again coming back to the Rs 290 support and if we start seeing any kind of steadiness in the price or even minor gains I would be a buyer in Coal India with a stop below Rs 290."
At 12:19 hrs Coal India was quoting at Rs 303.55, up Rs 3.80, or 1.27 percent. It has touched an intraday high of Rs 303.90 and an intraday low of Rs 298.95.
The share touched its 52-week high Rs 386 and 52-week low Rs 291.20 on 17 September, 2012 and 19 March, 2013, respectively. Currently, it is trading 21.36 percent below its 52-week high and 4.24 percent above its 52-week low. Market capitalisation stands at Rs 191,733.24 crore.
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Economy turning for sure but cant say for mkts: DSP