Ashish Chaturmohta of Fortune Group told CNBC-TV18, "After a very long time, Coal India has started to perform, above Rs 420 we have seen major volumes as well as open interest (OI) activity. The stock is trading near 52-week high, clearly indicating that fresh strength towards Rs 450-460 could be seen in the stock. Overall it is looking extremely positive."
"One can initiate long position with a small stop loss of Rs 420 for a short-term upside of Rs 450. However, if someone looks as a positional target then the stock has a potential to even cross Rs 480-500 levels in next three-four months," he said.
Disclosure: Analyst does not have any personal holdings.
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