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Coromandel International Ltd 

BUY 23 NOV 1880 CALL SELL 23 NOV 1940 CALL Entry Range 32 – 36 Target 55 Stop Loss 20

Rationale

• COROMANDEL has witnessed a strong bullish reversal from its recent swing low, extending the recovery momentum with reclaiming both of its key moving averages 20-DEMA as well as 50-DEMA, which indicates an improving price action.

• The price structure reflects a gradual formation of higher highs and higher lows, suggesting sustained buying interest and a potential shift towards a positive intermediate-term trend. Going ahead, sustained trading above 1,800-1,830 zone could extend the rally towards the 1,940-1,950 zone on the immediate basis.

• Momentum indicators remain supportive, with 14-day RSI hovering near the 60 mark, while MACD maintains a bullish crossover with expanding positive histogram bars, reinforcing the ongoing upward momentum.

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SEBI Registration number is INZ00017433