CONCOR : Buy or Sell?

Container Corporation of India Limited is in a rising trend channel in the medium long term. This shows that investors over time have bought the stock at higher prices and indicates good development for the company. It, however, gave a positive signal from the rectangle formation at the break up through the resistance at 747. Further rise to 940 or more is signaled. 

The stock has broken a support level in the short term and given a negative signal for the short term trading range. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the stock has support at approximately 710 rupee. 

Positive volume balance shows that volume is higher on days with rising prices than days with falling prices. This indicates increasing optimism among investors. The RSI curve shows a rising trend, which supports the positive trend. The stock is overall assessed as technically positive for the medium long term.

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