AbhishekHSinghCMT

Container Corp- Boom- pushes up from trendline@1180-Can we buy?

Long
NSE:CONCOR   CONTAINER CORP
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12
As per previous update- "Container Corp- Dividend can explode container from 1120-1140" - well container came close to expected zone & missed by a marginal gap of 40 points compared to the fall from 1336 to 1180 -which was a rocket move.

There was a bullish engulfing candle & container pops up to 1223 & doing sideways - so will it start moving upside - a million dollar question.

Trading Strategy

Well in coming sessions if it crosses the rejection zone of 2 times, which is 1240 mark & sustains above that -it will be a sign of bullish move upside.

or it attempts once again to 1195-1205 zone, but staying above the trendline & most important 1180 swing low as shown earlier in the previous chart& interim updates- that could be an opportunity to buy or take long positions.

You would love to read my previous update


Container Corp- Dividend can explode the container from 1120-1140 mark
Trade active: 09:48 Hrs 8th March2017

Last Price@1219

Day's Low@1202

Look at The Magical Trendline- Boom -Bounced again from 1202 -Day's lowest point- Making very strong trendline as contact points are increasing- In all there are 4 contact points including today's low.
Trade active: 09:53 Hrs 15th March2017

Last Price@1251

Slowly & Steadily Container is creeping upside with 1202 as key support in the present. Trendline gave us lot of opportunities like buying at 1180's then push up & falling exactly on trendline at 1202 & bouncing off that level- you can't ask more from market as more never ends.
Trade active: 19:37 Hrs 30th March2017

Last Price@1267

It took almost 1 month or 30 days for sideways move keeping 1202 intact so likely we could start an explosive move upside- need to keep a watch on the counter.
Trade active: 10:31 Hrs 31st March2017

Last Price@1285

It is coming out of 30 days consolidation & can give trending move likely it looks upside for 1315-1320 halt & later more.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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