Container Corp- Dividend can explode container from 1120-1140

WaveTalks Updated   
S-L ( Short First & Long Later)

Container Corporation of India Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on February 13, 2017, inter alia, to consider the approval of Un-audited Financial Results & Segment wise Revenue, Results & Capital Employed, for the quarter and the period ended on December 31, 2016 (Q3).
The Board of Directors may also consider declaration of interim dividend.

Going below 1235 which has been rejection zone can put container corp again in pressure & likely will continue in an impulsive manner to the zone 1120-1140 which will retrace the initial impulsive push from 1055-1228 by 61.8% -a likely support zone.

Trading Strategy
Scenario 1- Risky Traders - Going below 1235 -Keeping stops above 1299 for the target 1120-1140 zone. Once it dips below 1235 -it should even go below 1200 then likely slips to target zone as mentioned.

Scenario 2- Having patience & waiting for corp to come close to 1120-1140 zone if that zone holds & dividend declaration can make the container explode later on for target zone 1400-1425 zone.

Trade active:
14:16 Hrs 7th Feb2017

Last Price@1265

Turns from day high@1289 Previous High@1299

This risk also could have been taken as it was close opportunity for one would have lost 10-15 points, but gain have 15:1 Risk Reward ratio at price zone of 1120-1140 - That is an explosive one.
Trade active:
21:41 Hrs 24th Feb2017

Last price@1185

The rally got extended above 1299 but fall is even scary - expecting 1120-1140 zone where it retraces 61.8% & we plan for buying the stock in that zone.

21:45 Hrs 24th feb2017

Trendline should break then likely it heads down to the desired zone of 1120-1140

Best Regards,
Abhishek H. Singh
​Growth Director - TradingView India

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