Coal India has target of Rs 300, says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "Coal India's relative strength has been poor. It's underperformed the Nifty in the recent days. Beyond that it has strong resistance at the Rs 340 level. It's not crossing that and it's repeatedly coming down from there making some kind of an inverted view. It's a rounding top pattern for technically oriented listeners. So that's fairly bearish. It suggests a target of Rs 300 and in any case it is an avoid or a short sell."
He further added, " Bata India is now coming out of a very deep correction. It's in any case rallying. This is a stock that went up from Rs 150 and has not completed it's up move. Strong stocks can do wonderful things. Bata India for different reasons is one of those. Yesterday's rebound in Bata tells us, there is more headroom here. We should be trying to go long on an intraday basis. It's also a swing trade."
