Auf geht's
pradipandsuvra

CONCOR: Confluence of multiple Bullish Patterns

Long
CONTAINER CORP (NSE:CONCOR)  
pradipandsuvra  
NSE:CONCOR   CONTAINER CORP
Trend Lines Wedge Cup And Handle indianstockmarket concor stocktobuy stocktowatch breakoutsignal
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trendline wedgepattern cupandhandle indianstockmarket concor stocktobuy stocktowatch breakoutsignal
CONCOR looks extremely bullish in weekly timeframe.
And note: There is a mulling over Govt for the potential disinvestment of CONCOR to reduce Govt shareholding from 55% to 34% and relinquish the management control to strategic buyer(s). Looks like market is factoring that in.

  • There is a 5 years long monthly trendline shown as the green slanted line
  • Then in weekly it creates a confluence of multiple bullish breakout pattens: W pattern, Cup-and-Handle, Ascending triangle - all points bullishness.
  • COI (Cumulative Open Interest) is showing sufficient long build up in Nov contract.

One can put a SL of 690 for a target of 785 and 840 thereadfter.

Please note: The bullish buildup seems in the anticipation of the disinvestment.


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