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The stock of KRBL Limited has seen a sharp rise in price so far this week. This led to price hitting a 52-week high of ₹379.8 on Wednesday. Although the trend is bullish, there is a good chance for the stock dip from the current level. Substantiating the same, the daily RSI is showing a bearish divergence and the daily chart shows that the stock has formed an inverted hammer candlestick pattern on Wednesday.
So, even though the stock may not see a bearish reversal, it will most probably a corrective decline to ₹335. Therefore, one can consider going short on the stock of KRBL with stop-loss at ₹380 for a target of ₹335.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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