KRBL, Whirlpool may have bottomed out, upside likely, says Mehul Kothari

According to the technical analyst from Anand Rathi, KRBL has been trading in a range of Rs 180 to Rs 340 since the last two years.

BUY KRBL

Target: Rs 250

Stop Loss: Rs 220

KRBL has been trading in a range of Rs 180 - 340, since the past couple of years. Recently, the stock tested the lower end of the range and is now poised to retest the upper end. On the long term charts we are witnessing that the stock has bottomed out. Thus, traders are advised to buy the stock in the range of Rs 234 - Rs 230 with a stop loss of Rs 220 for an upside potential target of Rs 250 in coming 2 to 3 weeks.

BUY WHIRLPOOL

Target: Rs 1,800

Stop Loss: Rs 1,640

Since Nov 2021 the stock has been in a downtrend and entered an oversold zone. In the recent session; the stock confirmed higher bottom and higher top formation on the daily scale which indicates change of trend. In addition we are witnessing a Cup n Handle breakout with rise in volumes. Thus, one can accumulate the stock near Rs 1,700 with a stop loss of Rs 1,640 for an upside target of Rs 1,800 in the coming 2 – 3 weeks.

Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal.