Derivative Strategy on Container Corp by HDFC Securities

Momentum Indicators and oscillators Indicate strength in the stock

Derivative Strategy on Container Corp by Devarsh Vakil & Nandish Shah - PCG Desk at HDFC Securities:
 
Container Corp (Concor) August Future – BUY
CMP – Rs 1,244
Stop loss - Rs 1,220
Target - Rs 1,290
 
Rationale:

1.      We have seen long positions being built in Concor Futures in last two days(Wednesday and Thursday) where Open interest rising by more than 10% with price moving by 6% during the same period.
2.      Stock price has given breakout on the daily and weekly chart yesterday where it managed to close above the crucial resistance level of 1220