Coromandel Hits Record High, SEBI RAs See Rally Continuing Toward ₹3,000

The stock has surged 11% in just five sessions. Analysts recommend a swing trade opportunity.

Coromandel International is gaining traction on analysts’ radar with a 11% rally in the last five sessions. The stock hit a fresh record high on Wednesday. 

SEBI-registered analysts Bharat Sharma of Stockace Financial Services and Palak Jain have flagged a swing and positional breakout potential in this agrochemical company.

Sharma noted that the stock has breached the strong previous peak’s resistance with increased volume & large green candle, which signifies an upside momentum. Additionally, all Exponential Moving Averages (EMAs) are well aligned towards a further rally.

He recommends buying Coromandel between ₹2,550 and ₹2,610 for a target price of ₹2,800 and ₹3,000, with a suggested stop loss at ₹2,450 or ₹2,400 on a closing basis. Recommended timeframe is 30-60 days.

Jain noted that the stock has broken out above a significant resistance level, indicating a potential shift in market sentiment and a possible upward trend.

The double bottom pattern suggests that the stock has formed a strong support level and is likely to reverse its previous downtrend, potentially leading to a price increase. And its chart shows an increase in trading volume and a bullish price action, indicating growing investor interest and momentum, which can drive the stock price higher.

However, data on Stocktwits shows that retail sentiment flipped from ‘neutral’ to ‘bearish’ a day ago amid ‘high’ message volumes. 

Earlier this month, Coromandel reported strong June quarter (Q1 FY26) earnings, with profits rising 62% and revenues surging 49%.  Additionally, it announced plans to buy a  17.69% stake for $7.70 million in Senegalese rock phosphate miner Baobab Mining and Chemicals Corporation (BMCC).

Coromandel shares have rallied 37% so far this year. 

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