Dec 11 2023, 10:02
Container Corp hits 20% in 3 months!should you buy, sell or hold:
The breakout has opened room for the stock to head towards Rs 900 levels in the next 3-4 weeks, suggest experts. Short-term traders can look to buy the stock now or on marginal dips as the stock is likely to continue its winning run, they say.
Container Corporation of India, part of the logistics solution provider industry, has rallied over 20% in the last 3 months, which helped the stock breakout from November 2022 swing high.
The stock rose from Rs 690 on September 7, 2023 to Rs 842 on December 7, 2023, an upside of
20%.
The stock rose from Rs 690 on September 7, 2023 to Rs 842 on December 7, 2023, an upside of 22% in three months. It hit a fresh record high of 859 on December 8, 2023.
The recent up move helped the stock to break past the November 2022 high of Rs 828 on December 7, 2023. The stock has rallied more than 8% in a week and over 13% in a month.
"Container Corp stock has been forming a Higher Top Higher Bottom formation and hence is in an uptrend," Ruchit Jain, Lead Research at 5paisa.com, said.
"Container Corp stock has been forming a Higher Top Higher Bottom formation and hence is in an uptrend. Traders can buy for a target of Rs 900-940," Ruchit Jain, Lead Research at 5paisa.com, said.
source: et
Dec 12 2023, 09:46
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