Buy Coal India on declines: Shardul Kulkarni

Shardul Kulkarni of Angel Broking told CNBC-TV18, "Coal India is a buy candidate. I think that this stock can move higher from current levels. The overall chart pattern suggests that the stock can cross Rs 296 then that would result in a decent trendline breakout and one can see the stock move to around Rs 310-315."

"I would bet on that counter and it gives a decent risk to reward ratio to trade in. So Rs 274 would be a stoploss. Buy on declines anywhere around Rs 285 and Rs 310 can be expected over the next 8-10 trading sessions," he said.

Disclosure: He may have positions in the stock discussed and may have recommended them to his clients.