Coal India may slip further: Sukhani

Coal India may slip further, says Sudarshan Sukhani of s2analytics.com.
 
Sukhani told CNBC-TV18, "Coal India- at Rs 310 it encounters a lot of resistance, which means that the rally was almost nothing, it was 15 points. It is a short selling idea and the trade is that perhaps the Rs 295 levels will break on the downside and a steeper correction will start.”
 
Coal India 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 23.21 percent below its 52-week high and 1.79 percent above its 52-week low. Market capitalisation stands at Rs 187,217.04 crore.