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CONCOR:- Cup and handle pattern has formed, wait for breakout, till then keep an eye
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
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CONCOR
Key highlights: 💡
✅On 1D Time Frame Stock Showing Reversal of Falling wedge Pattern .
✅ It can give movement upto the Reversal target of above 735+.
✅There have chances of Breakout of resistance level too.
✅ After Breakout of resistance level this stock can gives strong upside rally upto above 828+ .
As we Can see on daily time frame of Concor after giving breakout again it is tested the support and also forming a double bottom pattern so in coming days it will become bullish so one can go long
The stock is currently trading in a range, a fast movement in the price can be expected when the price breaks the range.
Indian market is looking negative and hence shorting stocks can be more beneficial.
so container corp can be negative if it breaks the range downside below the level of 724
Good earning opportunity in Swing Trade.
CMP: 609.55
SL: 580
Target: 655 | 717 | 819
( Targets calculated on the basis of Fib. and previous swings )
Disclaimer:
I am not a SEBI registered analyst. My studies are for educational purposes only. Please consult your financial advisor before trading or investing. I am here just to share my views and have fun!!!...
The stock looks good for long position above a close of 781
which is a short term resistance.
Moving in the green channel within a range of 100-125 points.
A daily close above the horizontal TL can give 50-70 points
.
SL 750-755
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You...
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
=======
I use shorthands for my trades.
"Positional" - means You...
Concor is Looking on bullish trend considering trendlines from both 1Day Chart and Weekly Chart. Fundamentally Concor is one of the biggest logistic transport business. Technically also looking bullish respecting trendlines. I am looking this stock bullish untill it respects the trendline. As there is 1D remaining for results, I am expecting them to be positive....
Container Corporation of India Limited Current Price 755.00. Stock likely to continue its momentum to complete wave 5 above 800.00 levels. A complete Elliot Wave move of stock since pandemic low suggest that wave 5 is in progress and likely to complete near 800.00 plus levels, possibly around 840.00 to 860.00 levels
![CONCOR: [Positional] Concor Buy Idea](https://s3.tradingview.com/4/4Cu2gIwu_mid.png "[Positional] Concor Buy Idea")
![CONCOR: [Positional] Concor Short Idea](https://s3.tradingview.com/f/FjXv0Siv_mid.png "[Positional] Concor Short Idea")
