Traders can accumulate the stock in the range of Rs 212-217 for the target of Rs 243 with a stop loss below Rs 204, says Achin Goel of Bonanza Portfolio.
Cox & Kings has given a breakout above falling trend-line which indicates a reversal of the previous falling trend.
In addition, the price has moved above 21-EMA as well as 50-SMA on the daily chart which suggests growing optimism in the stock.
Daily RSI (14) is in bullish crossover and rising. Traders can accumulate the stock in the range of Rs 212-217 for the target of Rs 243 with a stop loss below Rs 204.Disclaimer: The author is Head of Wealth Management and Financial Planning, Bonanza Portfolio Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.