Rs 355-360 is a strong support for CIL: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now, gives his views on Coal India


What is the call on Coal India?

CIL just made fresh highs and sometimes this kind of news should be buy into stocks rather than trying to sell into them. Rs 355-360 is a fairly strong support and maybe medium term investors should use this news to buy into these stocks because overall resources are in some kind of a bull market and maybe this correction provides an opportunity to get in at lower levels, the all time lows around Rs 290-300. If we get closer to those levels, then that is an automatic level of support. Another day it would become ripe for longer term investment although short term trend would continue to be down.