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The stock of CCL Products (India) saw a price decline over the past couple of weeks. After touching a record high of ₹854 in early September, the scrip started to drop. However, the overall uptrend remains valid, and the stock has appreciated so far this week. The chart shows that it has rebounded from support and that further gains are likely from here. We anticipate the stock to rise to ₹830 in the short term.
Therefore, participants can consider buying shares of CCL Products at about ₹755 and accumulate if the price dips to ₹735. Place stop-loss at ₹690. When the price hits ₹785, trail the stop-loss to ₹755. Tighten the stop-loss further to ₹775 when the stock touches ₹810. Exit at ₹830.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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