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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
world.
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
