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You are here : IndiaNotes >> Research & Analysis >> Companies >> Container Corporation of India Ltd. >> Research

HDFC's Technical Switch Trades: buy Container Corporation and sell Cadila Healthcare

HDFC Sec | 16 Aug, 2017  | Follow Author | Add to my Favourites 
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Container Corporation of India Ltd (CONCOR): BUY


- The attached weekly timeframe chart of CONCOR is indicating a larger consolidation (triangle pattern) over the last many weeks.


- Presently, the stock price is making attempt to stage upside breakout of the triangle pattern around Rs.1190-1200 levels. This is positive indication.


- Hence, the stock price sustaining above Rs.1220 levels could open up a beginning of sharp upside as per the theory of upside breakout of triangles.


- We observe a larger sequence of higher tops and bottoms and last week’s low of Rs.1096 levels could now be considered as a new higher low of the sequence. Hence, one may expect further upmove from here.


- The overall positive chart pattern in CONCOR is indicating a long trade set up. Look to create buy positions.


Cadila Healthcare Ltd (CADILAHC): SELL


- The daily timeframe of this pharma stock is signaling a beginning of sharp decline from the highs.


- The recent upside bounce back, post sharp decline of previous week, seems to have completed. The stock price is now in the process of showing further weakness after forming a new lower top at Rs.501-last session.


- The key lower levels support (ascending green trend line) was not sustained on the pullback rally, as the stock price is now slipping again from near that support of Rs.482 levels.


- Daily 14 period RSI is moving in a bearish high low range and is currently facing resistance at the lower 40 levels. This pattern is suggesting a strengthening of downside momentum in the stock price.


- The negative chart pattern in CADILAHC is suggesting a sell trade opportunity for near term.


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HDFC Securities a trusted financial service provider promoted by HDFC Bank and JP Morgan Partners and their associates, is a leading stock broking company in the country, serving a diverse customer base of institutional and retail investors. HDFCsec.com provides investors a robust platform to trade in Equities in NSE and BSE , and derivatives in NSE. Our website will support you with the highest standards of service, convenience and hassle-free trading tools.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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