Coal India may slip to Rs 280: Chaturmohta

Ashish Chaturmohta, Fortune Equity Broker is of the view that Coal India may slip to Rs 280.

Chaturmohta told CNBC-TV18, “It looks weak because Coal India has been continuously consolidating at a lower level and at that point we have seen a very strong accumulation of shorts in this stock. Breaking this Rs 300 level again a fresh weakness may start and we may see the stock cracking towards Rs 280 levels. So, definitely looks quite weak and Rs 307-308 could be the stop loss for going short in Coal India at this point in time.”