Buy Container Corporation Ltd For Target Rs . 730/775 - LKP Securities
Future Outlook
• The Rs 80bn PSU aims to become a complete logistic solution provider.
• Volumes grew 7% last fiscal and its annual capex of around Rs 6bn is mostly towards rolling stock, rakes and containers.
Technical Commentary
• The stock is currently engaged in a sideways trend, indicating a lack of clear directional movement. Resistance is marked at 750, while support is evident around 650.
• A "buy on dip" strategy seems favorable, particularly around the mentioned support zone at 650. This strategy involves buying when the stock's price dips to capitalize on potential price rebounds.
• A significant move could transpire once the resistance level at 750 is successfully overcome. This could lead to swift upward momentum, potentially targeting the levels as mentioned.
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