Gurumurthy K

Investors with a short-term perspective can buy the shares of Cox & Kings. The stock surged over 4 per cent on Monday. This sharp rise has decisively broken the downtrend that was in place since April.

The 21-day moving average at ₹257 has been providing strong support for the stock since last Wednesday. There is resistance at ₹280, but it is likely to get breached in the upcoming trading sessions. Such a break can take the stock to ₹290 and even to ₹300 thereafter. Immediate support for the stock is at ₹275.

Traders with a short-term perspective can go long. Stop-loss can be placed at ₹273 for a target of ₹288. The bullish outlook will get negated only if the stock breaks and records a strong close below the 21-day moving average support. The next targets will be ₹250 and ₹240. But such a sharp fall looks unlikely for now.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

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