Container Corporation of India (₹783)
Bulls gaining traction
The stock of CONCOR (Container Corporation of India) has been on a recovery ever since hitting a 52-week low of ₹601.65 on March 3. A couple of weeks ago, it surpassed a resistance at ₹720 and broke out of a trendline resistance. This has turned the momentum in bulls’ favour.
Although there might be some moderation in price from the current level, the stock can appreciate to ₹950. Note that ₹900 is a potential hurdle where there might be a temporary consolidation. So, buy at ₹780 and ₹740. Place stop-loss at ₹690. When the price hits ₹850, alter the stop-loss to ₹800. Trail the stop-loss to ₹860 when the stock touches ₹900. Exit at ₹950.
Dalmia Bharat (₹2,015)
Support ahead
The stock of Damia Bharat has been in a steady uptrend since mid-March when it found a support at ₹1,600. A couple of weeks ago, it broke out of a resistance at ₹1,970 and rallied. But last week, the price dropped. Despite this, the uptrend is intact and the resistance-turned-support of ₹1,970 stays valid.
So, we expect the stock to resume the uptrend soon and appreciate to ₹2,400. Therefore, traders can go long at ₹2,015 and accumulate at ₹1,970. Stop-loss can be at ₹1,850. When the stock rises to ₹2,250, raise the stop-loss to ₹2,190. Tighten the stop-loss further to ₹2,300 when the price touches ₹2,350. Liquidate the longs at ₹2,400.
Muthoot Finance (₹2,216)
Bounces off a base
The stock of Muthoot Finance has been in a bull trend since March 2023. While there has been some corrections, the broader uptrend has stayed true so far. After consolidating in the recent weeks, the chart now shows signs of beginning the next leg of rally.
The weekly chart shows a morning star candlestick pattern and the Friday’s strong rally was accompanied by good volumes and occurred on the back of a trendline support. So, one can consider buying shares of Muthoot Finance at ₹2,216 and on a dip to ₹2,130. Stop-loss can be at ₹2,000. When the stock hits ₹2,400, revise the stop-loss to ₹2,250. On a rally to ₹2,500, raise the stop-loss to ₹2,400. Exit at ₹2,600.
Published on May 31, 2025