Chart Check: Coromandel International climbs 200-DMA on daily charts; likely to hit Rs 1,000 level

Coromandel International’s stock price has formed a strong base above the Rs 840 level, showing a rebound in March 2023 to reclaim its 50 and 200-DMA. The stock largely moved in a range but saw a breakout above Rs 940 in May and climbed above 200-DMA placed at Rs 941. The stock is still down over 12% from its 52-week high of Rs 1,094 recorded on 1st September 2022. According to Technical Analyst Kapil Shah, the stock offers a buying opportunity with a stop loss of Rs 915 and an upside potential of up to Rs 1,000 to 1,050 in the next month.