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 Rs.257 has been providing strong support for the stock since last Wednesday. There is resistance at Rs.280, but it is likely to get breached in the upcoming trading sessions. Such a break can take the stock to Rs.290 and even to Rs.300 thereafter. Immediate support for the stock is at Rs.275.
Traders with a short-term perspective can go long. Stop-loss can be placed at Rs.273 for a target of Rs.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 Rs.250 and Rs.240. But such a sharp fall looks unlikely for now.
No comments:
Post a Comment