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Whirlpool of India Limited            BUY  technical

CMP: `1003.85 (As on 02nd Feb, 2017)       pick
Buy on decline: `980-960
Target Price: `1050-1080                   Whirlpool of India Limited manufactures and
Stop-Loss: `945                            trades in home appliances in India. The company
                                           primarily offers refrigerators, washing machines,
Whirlpool of India Limited                 air conditioners, microwave ovens, water
                                           purifiers, home power products, and accessories,
                                           as well as built-in kitchen appliances, including
                                           ovens, microwave ovens, hobs, microwave and
                                           cooker hoods, coffee machines, refrigerators,
                                           water purifiers, dishwashers, barbeques, and
                                           stackable washers and dryers. Headquartered
                                           in Gurgaon, it is now one of the leading
                                           manufacturers and marketers of major home
                                           appliances in the country. The company owns
                                           three state-of-the-art manufacturing facilities at
                                           Faridabad, Pondicherry and Pune. The company
                                           exports its appliances all over the globe from
                                           Australia and New Zealand in the east right
                                           up to Latin America in the west. Currently, it is
                                           supplying to more than 30 markets all over the

                                           Technical Outlook:

                                           On the daily chart, we are observing that
                                           prices have given strong breakout from the
                                           consolidation zone of 960 to 980 levels. Further,
                                           the momentum oscillators viz. RSI is gaining
                                           momentum which suggests upside momentum.

                                           Hence we recommend buying in stock on a
                                           decline in the range of Rs 980-960 with a stop
                                           loss of Rs 945 for a target of Rs 1050-1080 levels.

                                                                    6 ARIHANT CAPITAL ยก FEBRUARY 2017
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