Container Corp was trading in a broad Northward Channel. It has came to its Channel Support & has given a Bullish Gap & has sustained its 1st Day.
The company is a relative value pick. Todays Management interview gave a +ve Guidance. The companies review with Topline +10% & Bottom line +37% & Guidance is +12% growth in enterprise & Volume. GST implementation has been smooth.
I expect the stock to move towards targets of 1200/1250. ICICI direct has given a Target of 1370, which today looks far fetched.
Now, whether the stock fills the gap in this week or leaves it as a bullish continuation is a question.. My instinct is that it may shadow fill it before moving ahead as there must be shorts trapped.
However, if it continues higher, this could be a stellar rally, completing its name CONCORD ^^
Keep a SL of 1144 & Look for targets of 1200/1250.