Recommended Stock of the Week – Whirlpool India Limited
Whirlpool India Limited is a manufacturer of home appliances. The Company is primarily engaged in manufacturing and trading of Refrigerators, Washing Machines, Air Conditioners, Microwave Ovens and small appliances and caters to both domestic and international markets. It provides services in the area of product development, and procurement services to Whirlpool Corporation, the United States and other group companies.
SHORT TERM PERSPECTIVE
|Recommendation||Accumulate (Rs 1130-1120)|
|Stop Loss (SL)||Rs. 1060|
|Target Price||Rs. 1280|
Source: Capitaline Database, EWAL Research
Intermediate trend is up in WHIRLPOOL. The stock is continuously making higher top higher bottom formation on daily chart; this is bullish pattern in nature. As of now stock has been reached near to previous peek which it was made in Oct 2016, but increasing in volume indicating that stock can move higher from current level. Hence one can accumulate the stock between (Rs 1130-1120) with a stop loss of 1060 (closing basis) and respected target seems 1280. Time frame should be 2-4 weeks.
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