Buy Cox & Kings; target of Rs 320: Way2Wealth

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26 Aug, 2025 12:21

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Way2Wealth’s report on Cox & Kings

Cox & Kings rallied up sharply from levels of 85 to 367 giving around 430% return in short time span of one year i.e. Oct 2013 to Sep 2014. After making a high of 367.95 in mid September 2014, stock switched its mode from impulse to corrective and spent almost equal time of one year with negative biasness. In this correction phase share prices corrected from 367.95 to 200.1 around 60% which is close to the golden mean ratio of 61.8%. Prices violated the downward falling channel support line on the daily chart and spent reasonable time below the same as visible in chart 1.1. However, prices bounce back in to the channel area which turned bearish breakdown in to bears trap which are usually followed by sharp rise.

Price action from late August 2015 to October 2015 has completed the bullish head and shoulders chart pattern on the daily chart. Declining volumes during entire correction phase increases the probability of new high in current up wave. Moreover, reliable lagging indicator MACD on the weekly scale has just rolled over to the buy side visible in chart 1.2. Thus, we expect prices to upsurge from current levels and hit the price target in the upcoming trading sessions.For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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