Cox & Kings (₹236.2)

Investors with a short-term perspective can consider buying the stock Cox & Kings at current levels. On Thursday, the stock jumped 3.4 per cent with above average volume, strengthening its short-term uptrend. Since taking support at around ₹205 in late May, the stock has been on a short-term uptrend. While trending up, it breached its 21- and 50-day moving averages last week. Moreover, the stock has been on an intermediate-term uptrend since taking support at ₹160 in late November 2016.

Currently, the stock tests a key resistance at ₹235 with an upward bias. Both the daily and weekly relative strength indices have entered the bullish zone from the neutral region. Further, the daily as well as weekly price rate of change indicators are featuring in the positive territory implying buying interest. With intermediate and short-term trends are up, the stock has the potential of breaking above the current resistance and trending higher. Short-term outlook is bullish for the stock. Targets are ₹246 and ₹251. Traders with a short-term view can buy with a stop-loss at ₹231.

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

Read the rest of this article by Signing up for Portfolio.It's completely free!

What You'll Get





MORE FROM BUSINESSLINE


 Getting recommendations just for you...
This article is closed for comments.
Please Email the Editor