Buy Coal India, says Ambareesh Baliga

Buy Coal India at these levels, says Ambareesh Baliga, COO of Way2Wealth.

Baliga told CNBC-TV18, "We have always been quite negative on the realty space and especially DLF and in this up move we had said that possibly Rs 240 to Rs 245 should be the top for the stock and that is exactly what has happened. I see this stock correcting back to those Rs 200-205 levels and from a trading point of view people could look at buying at Rs 200-205 again exiting at Rs 230 where it is right now."

He further added, "Coal India has come to very decent levels. Valuation wise I suppose there are those short term issues. For example lately they were been forced to supply coal to the power plants where there is crisis, so this is one of the reasons why this stock has corrected to a certain extent. Then you have the wage bill issue which will get sorted out over the next couple of weeks, hopefully. I think this level possibly is the low point. I don