Lanco Infratech, Coal India may see further fall: Kulkarni

Shardul Kulkarni, Sr.Technical Analyst at Angel Broking feels that Lanco Infratech, Coal India may see further fall.

Kulkarni told CNBC-TV18, “Today Lanco Infratech is already down 3% but still I feel that there is a potential for the stock moving to around Rs 12. The chart pattern suggests that the bounce which we have seen from Rs 12 to Rs 13.5 is just a corrective rally and going forward one may see a further fall in case of Lanco. So Rs 12 is a potential target for Lanco Infratech. He further added, “I am still bearish on Coal India. I feel the stock is expected to move to around Rs 330 as the first target. Going forward one may see even further lower levels for Coal India. So at every rise one should be going short on Coal India.”