Sell Concor, target Rs 550: Gaurav Ratnaparkhi

Gaurav Ratnaparkhi of Sharekhan by BNP Paribas has a sell call on Container Corporation of India (Concor) with a target price of Rs 550.

The current market price of Container Corporation of India is Rs 630.

Time period given by the analyst is one week when Concor price can reach the defined target.


Gaurav Ratnaparkhi recommended keeping a stop loss at Rs 650.

"The stock was oscillating about its crucial weekly moving averages for last several weeks. In terms of the price pattern, it has formed a distribution triangle, which is a bearish pattern. The daily & weekly momentum indicators are in sync with the bearish price structure. Thus the stock looks poised for a sharp decline. Froma medium-term perspective, 550 shall be the key target on the downside," Ratnaparkhi said.