Buy Coal India, target Rs 295: Mazhar Mohammad

Mazhar Mohammad of Chartviewindia.in has a buy call on Coal India with a target price of Rs 295.

The current market price of Coal India is Rs 262.60.

Time period given by the analyst is one month when Coal India price can reach the defined target.


Mazhar Mohammad recommended keeping a stop loss at Rs 255.

"For the last couple of months, this counter appears to have carved out a trading range between Rs 295 – Rs 260 levels. As this scrip is currently trading close to the lower end of its trading range, a bounce back towards Rs 295, as happened on multiple occasions in the past, can’t be ruled out unless it breaches the lower boundary. Hence, positional traders should make use of this opportunity and go long with a stop of Rs 255 for a target of Rs 295," said Mazhar Mohammad in a report.