Coromandel Worldwide’s inventory has been in an uptrend since April this yr. It bounced off the assist at ₹850 and has been appreciating since then. Whereas there was a minor correction within the second half of final month, the downswing was solely short-lived. Final week, the inventory rallied and closed above a hurdle at ₹1,145. Though the inventory depreciated a little bit on Monday, it’s more likely to be solely a corrective decline. We anticipate the inventory to renew the uptrend, and it’s notably more likely to go up on Tuesday. However the worth may dip to ₹1,145 earlier than rallying. Therefore, we recommend initiating an intraday purchase if the value dips to ₹1,145. Place the stop-loss at ₹1,130. E book earnings at ₹1,185.
Notice: The suggestions are based mostly on technical evaluation. There’s a threat of loss in buying and selling.
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