Current markets are not suited for one thing and that's breakout trading.
A recent breakout in Coromandel has been taken by almost all breakout traders and stock saw decent volumes on breakout on 24th May, but what's happening today is that the stock is about to break the low of prev day which is at 933.1 while CMP is 938.
This is a breakout failure alert for the stock below the breakout candle. In bear markets breakout failures are tough to handle as buyers usually hide into strong stocks and once lows are broken they capitulate.
Of course I can be wrong, but this is what i think about this stock and overall breakout failures.
Weekly chart - Highlighted is the resistance zone for the stock
Disclaimer :- On lookout for short trade, no open position currently.