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The upmove in Whirlpool of India has gained momentum. The stock has surged over 5 per cent on Monday, decisively breaking above the key resistance level of ₹1,460. Support will now be in the ₹1,460-₹1,455 region. Moving average cross overs on the daily chart also strengthens the bullish case. It indicates that the downside could be limited. As such a fall below ₹1,455 will be less likely.
Whirlpool of India share price can rise to ₹1,650 over the next two-three weeks. Traders can go long in the stock at current levels at ₹1,526. Accumulate on dips at ₹1,480. Keep a stop-loss at ₹1,425. Trail the stop-loss up to ₹1,560 as soon as the stock moves up to ₹1,595. Move the stop-loss further up to ₹1,590 when the price touches ₹1,615. Exit the stock at ₹1,645.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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