Bharat Coking Coal shares surged over 6% in intraday trade on the BSE on Monday, 26 October, looking set to snap their six-session losing streak. Bharat Coking Coal share price opened at ₹31.36 against its previous close of ₹29.78 and jumped 6.5% to an intraday high of ₹31.73.
The stock jumped following the announcement of Q2FY27 results. The company's revenue from operations for the quarter stood at ₹4,412.6 crore compared to ₹3,173.25 crore.
Profit for the quarter came at ₹123.74 crore compared to a loss of ₹53 crore in the same quarter last year.
The stock is down 10% in last 6 months. It has been gradually moving lower in a lower highs and lower lows formation below its key moving averages.
According to Vipin Kumar, AVP-Research at Globe Capital Market, the chart structure remains negative as long as the stock is trading below the ₹33.50– ₹35.50 zone, and any bounce-back rally towards these levels will attract sellers' interest around that zone. Immediate support on the downside is placed around the ₹29– ₹28 zone, said Kumar.