Coromandel International: Discover the Winning Stock Strategy!

Coromandel International, or COROMANDEL, is doing really well in the stock market. Right now, it’s trading at around Rs 1,819.25, which is very close to its highest price ever. The stock has been climbing steadily, showing that many people believe it has a bright future.

Recently, it was stuck in a range where it didn’t go up or down much, which is a good sign because it means many people are interested in buying. If COROMANDEL can hold its price above Rs 1,840, it could go even higher! Hardik Matalia, a smart analyst from Choice Broking, suggests that traders should buy when the price drops, as long as it stays above Rs 1,750, which is an important support level.

The Relative Strength Index (RSI) shows a score of 64.02 and is going up, suggesting more people want to buy, which can mean more price increases in the future. Plus, COROMANDEL’s price is above its important moving averages, making it look good for continued growth.

Options data reveals that there is a lot of support at the Rs 1,800 level and some resistance at Rs 1,840. If it breaks above Rs 1,840, even more investors might join in, pushing the price even higher.

To take advantage of this positive situation, Matalia recommends a strategy called a Bull Call Spread. This involves buying and selling options to try and gain from the price rising while also being cautious about not losing much money.

In summary, COROMANDEL looks strong, and with the right strategies, there could be chances to make money as the stock continues its upward trend.