Long-term trend in Cox & Kings down: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about Cox & Kings.

Have you looked at the charts of Cox & Kings?

It is a move that started from rock bottom because the stock had come pretty close to 365 which is its more than a one-year low, something like a 15-month low. So this is purely news driven move and for the moment, one could say this short-term trend is certainly up.

Perhaps the intermediate trend should remain up if it remains at this price. This will be something like a one-week high. So this could be an intermediate trend turning news but the long-term trend in this stock is down and it has all sort of happened in the middle of quite a persistent decline.

So the best case scenario would be the trend has changed with this piece of news, the worst case scenario is continuation of the whole trend.