Exit Coal India, advises Kunal Bothra

Nov 18, 2013, 05.31 PM IST

Kunal Bothra of LKP recommends exiting Coal India.

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Exit Coal India, advises Kunal Bothra

Kunal Bothra of LKP recommends exiting Coal India.

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Exit Coal India, advises Kunal Bothra

Kunal Bothra of LKP recommends exiting Coal India.

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Kunal Bothra of LKP told CNBC-TV18, " Coal India seems to be on a clear downtrend probably on a monthly chart or a quarterly chart. Probably from Rs 400 levels, couple of years back, it has been on a consistent downtrend. It is also trading below 200 day moving average (DMA). For a downtrend to get over and stock starting to resume its uptrend, I think that Rs 300 psychological barrier has to be taken out."

"I would ask that only above Rs 300 one can look to probably buy Coal India. At this point, exit if it goes above Rs 300, that is where one can probably add up more quantity and one can invest in Coal India again but at this point, it is a clear exit," he said.

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