Mehul Kothari recommends to buy Jubilant Ingrevia, Whirlpool; Check Why
Buy Near: Rs 570
Target: Rs 610
Stop Loss: Rs 550
The stock has been in a strong uptrend on medium-term time frame and recently it confirmed a range breakout above Rs 570 mark. This breakout has occurred above the 200-day SMA and EMA. The price action also resembles a bullish Cup and Handle formation.
Thus, we advise traders to buy the stock near Rs 570 mark with a strict stop of Rs 550.
Whirlpool of India
Buy Above: Rs 1,520
Target: Rs 1,600
Stop Loss: Rs 1,480
The stock Whirlpool seems to be a bit oversold on the smaller degree charts. We are witnessing a Hammer kind of formation on the daily scale and that could be a sign of some reversal. The daily RSI too has confirmed a bullish divergence.
Thus, we advise traders to buy the stock above Rs 1,520 with a strict stop loss of Rs 1,480.
(Mehul Kothari – AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
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