Coal India may go upto Rs 320-325, says Sanjeev Agarwal

Sanjeev Agarwal, CEO of Dynamix Research & Capital Management feels Coal India may see a good bounce back, which may take the stock upto Rs 320-325 levels, he adds.

Agarwal told CNBC-TV18, “Coal India has a very good support at around Rs 292. It is bouncing just above that. There maybe a bounce back, which may go up to Rs 320-325 but I don’t see any bigger rise from here.”
“Anyway, if it gets around Rs 320-325, he should exit as the main trend remains down. In case, it doesn’t reach Rs 320-325, he can keep a stop loss of Rs 290 on a closing basis. If it closes below Rs 290 on a closing basis, he should exit this stock and can wait for much lower levels to buy again,” Agarwal added.