Stock to buy, April 22 -- Brokerage firm Anand Rathi has chosen Cochin Shipyard as its 'pick of the month'. The brokerage firm has given a target price of Rs.1660, seeing an upside potential up to 11 per cent.

The brokerage further noted that the stock has successfully broken out above the Rs.1,500 level following a prolonged consolidation phase. It highlighted that the price pattern resembles an Inverse Head and Shoulders formation, which is considered a bullish indicator.

"After a long consolidation, finally the stock has managed to confirm a breakout above 1500 mark. The price structure resembles an inverse head and shoulder pattern which is bullish in nature," Anand Rathi said in a note.

Additionally, the brokerage noted that the p...