Container Corporation of India Limited Stock Forecast

Volatile ride for Container Corporation of India Limited stock price on Friday moving between ₹998.65 and ₹1,116.05
(Updated on May 17, 2024)

CONCOR.NS Signals & Forecast

The Container Corporation of India Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹1,026.19 and ₹978.84. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 30.70%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Container Corporation of India Limited stock

Container Corporation of India Limited finds support from accumulated volume at ₹1,068.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹117.40 between high and low, or 11.76%. For the last week, the stock has had daily average volatility of 4.25%.

Since the Container Corporation of India Limited has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: ₹1,045.09 (-3.86%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 40 days ago.)

Trading Expectations (CONCOR.NS) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Container Corporation of India Limited to open at ₹1,067.25, and during the day (based on 14 day Average True Range), to move between ₹1,049.12 and ₹1,124.98, which gives a possible trading interval of +/-₹37.93 (+/-3.49%) up or down from last closing price. If Container Corporation of India Limited takes out the full calculated possible swing range there will be an estimated 6.98% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹1,068.00, some ₹19.05 (1.75%) from the current price of ₹1,087.05, our system finds the risk reward attractive.

Is Container Corporation of India Limited stock A Buy?

Container Corporation of India Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.578 Strong Buy Candidate Upgraded

Predicted Opening Price for Container Corporation of India Limited of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.