I believe that you are asking if you should attach the parachute to the shock cord or to the nosecone?
Many people tie a loop in the shock cord and use a fishing swivel leader to attach and detach parachutes (you tie the parachute lines to the small hole in swivel leader and use the snap clip to clip to the loop you made in shock cord). If you attach your parachute a away from the nose cone it is less likely to get tangled (nose cone does not snake through the lines and swivel leader lets parachute / rocket independently twist). However, keep in mind that the nose cone basically pulls the parachute from the tube so do not attach parachute too close to body (basically attach close to middle of shock cord). This also lets you detach parachute and store flat and separately from rocket (it gets less squashed and opens more easily) or swap parachute to other rockets.
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