Coal India Trades Near Support: SEBI RA Karanraj Sonkusale Says ₹513 Possible On ₹374 Reversal Signal

Shares of Coal India are trading near key support levels, with a potential bullish setup suggesting an upside target of ₹513, according to SEBI-registered research analyst Karanraj Sonkusale. 

The analyst said the stock looks “good” on weekly charts and may move higher if it holds support and shows confirmation of reversal.

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At the time of writing, shares of Coal India were trading 0.78% higher at ₹386.30.

Coal India’s stock closed at ₹383.30 on Wednesday and is hovering near immediate support at ₹377.08. Technical indicators offer a mixed picture. 

The Relative Strength Index (RSI) stands at 44.78, indicating neutral momentum, while the Moving Average Convergence Divergence (MACD) is negative at -1.11, suggesting short-term bearishness. 

Coal India is currently trading below short-term exponential moving averages, with EMA5 at ₹392.72 and EMA7 at ₹393.74.

Sonkusale said a bullish trade could be initiated in the ₹374–₹394 zone if confirmation signals such as bullish candlestick patterns or volume spikes emerge. 

He set a stop-loss below ₹360 and expects a potential upside toward ₹513, a historical resistance level. 

He added that sustaining above ₹374 with bullish confirmation improves the probability of a breakout.

In the first quarter of FY2025, the company reported a consolidated net profit of ₹109.59 billion, beating analyst expectations. 

The result was supported by a 6.2% increase in sales volumes and a 5% drop in employee costs, which helped offset a 5.5% decline in coal prices.

For the full year FY2024, Coal India reported revenue of ₹1.42 trillion and net profit of ₹374.02 billion. Its EBITDA margin stood at 34.2%, return on equity at 40.27%, and dividend yield at 6.65%. 

The company also maintains a debt-to-equity ratio of 0.076.

Key levels to watch include immediate support at ₹377.08 and major support at ₹369.77, while resistance is seen at ₹396.03 and ₹407.67, according to Sonkusale.

On Stocktwits, Sentiment was ‘extremely bullish’ amid ‘low’ message volume.

Shares of Coal India have declined 0.03% so far this year.

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