Stocks to buy: KRBL and Ratnaveer Precision Engineering are two technical stock picks by analysts
Also Read: Stocks to buy: 8 stocks that may rise 4-16% in the next 3-4 weeks, say analystsHere are the two technical stock picks:After peaking near ₹137 on May 22, 2024, Ratnaveer Precision Engineering shares experienced a significant downturn, declining approximately 30 points, or about 22%. However, in the following two trading sessions, Ratnaveer Precision shares showed some cool off.From a technical standpoint, the daily stochastics indicated a bullish divergence along with 1:1 leg, suggesting a potential shift in momentum and presenting an attractive buying opportunity, said brokerage firm Anand Rathi.Also Read: Stocks in focus: Ruchit Jain of 5paisa recommends buying these two stocksConsequently, it advises traders to consider buying Ratnaveer Precision shares within the ₹121-125 range, targeting an upside of ₹141, with a stop-loss set at ₹114 based on the daily closing price, and a timeframe of one month.Ratnaveer Precision stock is Anand Rathi’s pick for the month and the target price implies an upside potential of 14% from Friday’s closing price.KRBL shares have witnessed decent erosion from the peak of ₹480 to show signs of bottoming out around ₹270 levels and have formed a good base at these levels.
It also indicated a positive candle pattern in the daily chart to signify strength and potential to rise further in the coming days, said Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd.Also Read: 5 liquor stocks surged 10%-88% in last one yearThe RSI has also bottomed out, shown a trend reversal from the oversold zone to signal a buy, and moved to a positive bias zone, Parekh noted.With good volume activity witnessed, she recommends a ‘buy’ on KRBL shares for an upside target of
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