KRBL Rebounds From Oversold Zone: SEBI RA Anupam Bajpai Sees Further Upside

KRBL appears to be on an upward trajectory after enduring a sharp downtrend, marked by eight consecutive loss-making sessions earlier this month.

KRBL stock is showing early reversal signs on technical charts, noted SEBI-registered analyst Anupam Bajpai. On June 23, a candlestick closed below the lower Bollinger Band on the daily chart, an event that often signals an oversold condition and hints at a potential rebound.

A sharp move quickly followed this technical signal, the analyst observed.

On June 24, KRBL surged nearly 7%, validating the oversold condition and indicating renewed buying interest. A short momentum pause followed on June 26 with the formation of a Doji candlestick, often seen as a sign of indecision at key inflection points.

However, the uncertainty was resolved with bullish intent in the following session. On June 27, the stock rose 3.14%, further supporting the reversal trend, Bajpai said.

Building on this positive setup, a bullish crossover has now occurred between the 5-day and 20-day moving averages. This crossover is a widely followed momentum indicator that typically suggests a shift in short-term trend from bearish to bullish.

With improving momentum indicators, price strength, and trend confirmation, KRBL looks poised to extend its gains, he said.

If the current bullish sentiment holds, the stock may head toward its next key resistance level at ₹384 in the short term.

At the time of writing, the shares were up marginally to ₹377.7, having gained more than 26% year-to-date (YTD).

KRBL is a midcap company operating in the agriculture sector, specifically exporting basmati rice. It also operates in the energy segment, generating power from wind turbines, husk-based power plants, and solar power plants.

The company reported strong Q4 results with net profit surging over 35% to ₹154 crore, and revenue increasing 9.4% to ₹1,442.2 crore.

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