Buy Container Corporation of India, target Rs 550: Vaishali Parekh
Buy Container Corporation of India at a price target of Rs 550 and a stop loss at Rs 500.
By ETMarkets.com |
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Vaishali Parekh of Prabhudas Lilladher has a buy call on Container Corporation of India with a target price of Rs 550.
The current market price of Container Corporation of India is Rs 509.50.
Time period given by the analyst is two weeks and she recommended keeping a stop loss at Rs 500.
"The stock has formed a double bottom formation pattern in the daily chart around Rs 500 and has produced a positive candle to imply strength. It can retest the previous peak level of Rs 543 and give a breakout to get fresh upside targets. The RSI also has indicated a trend reversal to signal a buy and has improved the bias," said Parekh.
The current market price of Container Corporation of India is Rs 509.50.
Time period given by the analyst is two weeks and she recommended keeping a stop loss at Rs 500.
"The stock has formed a double bottom formation pattern in the daily chart around Rs 500 and has produced a positive candle to imply strength. It can retest the previous peak level of Rs 543 and give a breakout to get fresh upside targets. The RSI also has indicated a trend reversal to signal a buy and has improved the bias," said Parekh.
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