Container Corporation of India Limited (CONCOR) is engaged in transportation of containers (rail and road), and handling of containers. The Company is also engaged in the operation of logistics facilities, including dry ports, container freight stations and private freight terminals.

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SHORT TERM PERSPECTIVE

Company Container Corporation of India Limited .
Recommendation Buy
CMP Rs.573.05
Stop Loss (SL) Rs.555
Target Price Rs.615-630
Time Horizon 2-4 Weeks

 

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Source: Capitaline Database, EWAL Research

Intermediate and short term trend is up in this stock. After a moil correction stock has developed a short term base near to 100 day EMA which has been acting as major support in previous days on daily chart and formed high top higher bottom on weekly as well as on daily chart; consequently, this is a bullish pattern in nature. Stock is sustaining above all the major moving averages and volumes have been always increased on the lower levels. A bullish RSI and MACD buy signal has emerged on the daily chart and upward revision in the price is likely to happen over coming days. Therefore we are recommending to buy this stock at CMP of Rs. 573.05 with a stop loss of Rs. 555 (closing basis) and for the target price of Rs. 615-Rs.630.Time frame should be 2-4 weeks.


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