Todays Pick

Whirlpool of India (₹2,130.2): Buy

Akhil Nallamuthu BL Research Bureau | Updated on August 31, 2021

The stock of Whirlpool of India has had a bad year thus far in 2021 as it is down by about 19 per cent year-to-date. Even as the stock hit a fresh all-time high of ₹2,787 in January, it was unable to extend the rally beyond that level and started its descent. By the end of April, the stock had fallen to ₹2,080 which arrested the decline for some time. Nonetheless, the stock slipped below this level a couple of weeks ago, potentially creating foundation for bears to extend the decline. However, the support at ₹2,000 played spoilsport for the bears and over the past week, there was a tug-of-war between the bulls and the bears. So, the stock was largely moving within the price band of ₹2,000 and ₹2,050. But on Tuesday, bulls emerged as winners on the back of the support of ₹2,000 as they took the stock above ₹2,050, turning the outlook bullish. The daily RSI and MACD corroborate the same. So, buy with stop-loss at ₹2,065; target at ₹2,230.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

Published on September 01, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like