?Daily Trading Guide: Whirlpool Among Stock Recommendations for Monday

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?Day Trading Guide: Whirlpool Among Stock Recommendations for Monday – On A High | The Economic Times November 13, 2022, 2:43 PM ISTNifty and Sensex posted decent gains in Friday’s session after US inflation came in weaker than expected. Nifty hit levels of 18,350 points, after gaining 321 points, as the broader markets underperformed the major indices. We’ve been skeptical of this market rising for the past few weeks, but the bulls don’t seem to be in the mood to breathe. So it is better to look for a downside confirmation in case of any sign of profit booking. For now; 18000 would be an intermediate support and a break of it could dampen the current momentum. Traders can follow a trailing stop loss of 18,000 for their existing long positions,” said Mehul Kothari – AVP-Technical Research, Anand Rathi Shares & Stock Brokers.
Getty Images2/5Shipping Corporation of India-BuyPurchase range: Rs133.75-132.40
Target Rs.146
Stop Loss Rs. 127On a daily chart, Shipping Corporation is typically moving in a well channeled fashion. The price respected the upper and lower trendline of the channel each time it touched. The price is trading above the 21-day exponential moving averages, indicating a positive trend. Also, the technical indicator’s ichimoku cloud suggests that the price is trading above the conversion line and the base line, which shows a positive trend in the meter. The Momentum RSI oscillator (14) is reading above 65 levels, which adds more strength on the upside. Observations of the above factors indicate that a bullish move is possible in the meter. (Vishal Wagh, Head of Research, Bonanza Portfolio)
iStockPurchase range: Rs. 453.60-452
Target Rs. 474
Stop Loss Rs 441 In the last trading session, the price gave a breakout of the symmetric triangle pattern with pushing volume indicating a continued uptrend. Furthermore, the price also traded above the 21 Exponential Moving Average. Additionally, the MACD indicator also indicates the long position with a positive crossover. Observations of the above factors indicate that a bullish move is possible in the business. (Vishal Wagh, Research Head, Bonanza Portfolio)iStockBuy around Rs 570
Target price: Rs 610
Stop loss: Rs 550 The stock has been on a strong medium-term uptrend and recently confirmed a break above the 570 mark. This breakout occurred above the 200-day SMA and EMA. The price action also looks like a bullish Cup and Handle formation. (Mehul Kothari – AVP-Technical Research, Anand Rathi Shares & Stock Brokers)
iStockBuy around Rs 1520
Target – Rs 1600
Stop loss: Rs 1480 Whirlpool stock appears to be a bit oversold on the smaller degree charts. We are seeing Hammer-like formation on a daily scale and this could be a sign of some reversal. The daily RSI also confirmed a bullish divergence. (Mehul Kothari – AVP-Technical Research, Anand Rathi Shares & Stock Brokers) (Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. of Economic Times)ETMarkets.comTo view your saved stories, click on the link highlighted in bold

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