Coromandel International closed at Rs 2,060.00, gaining 55.30 (+2.76%) and marking a fresh 52-week high. The chart shows a Gravestone Doji candle near resistance, indicating possible exhaustion of bullish momentum.
RSI is at 68.00, nearing overbought levels, suggesting limited upside in the immediate term.
The price is well above all key EMAs (20/50/100/200), reflecting strong bullish bias. However, the current candle structure calls for caution. Recommendation: Avoid fresh entries at current levels.
A decisive close above Rs 2,068 with volume confirmation can signal as a buying opportunity for further upside. While support lies at Rs 2,000 and Rs 1,940.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
