Buy Coal India, says Shubham Agarwal

Shubham Agarwal of Motilal Oswal Securities told CNBC-TV18, "Coal India is a positional buy, so if you look at the medium term chart, this is a rounding bottom that we see on the medium term to long-term scale. The resistance of Rs 400 we saw that getting surpassed and for the past three to four days, the correction that we have seen, we believe that that is temporary in nature. So, it is a very good opportunity to go and participate there."

"The stock has been a relative outperformer, so we expect that the next move on Coal India should be to the extent of Rs 440 so that is the target that we are looking at and a stoploss for the same can be kept at Rs 378," he added.