Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Coal India is a very big disappointment. For all the people who bought it at an Initial Public Offering (IPO) including me, it was supposed to be a blue chip, that would do wonderful things. It has broken down from Rs 280-285 support level. Beyond that there is a freefall and we have already started experiencing that freefall. If one has bought these shares at an IPO then stay with it. I think much lower levels are coming, but selling and then buying at a lower level is not easy to do. Just stick around."
"In two-three years time something will change surely, this cannot go on forever. If one is a short-term trader I would suggest that one gets out immediately. There is no sense in taking more pain. More pain is coming in the stock. If someone has bought it for a long-term investment, stay with it. Anything else as a short-term trader, just exit," Sukhani said. Also Read: E-auction realisation disappointed in Q1: Coal India's Rao
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