Support on Weekly Chart:
The weekly chart indicates that Whirlpool has found support, suggesting a potential area where buyers are stepping in. This support could act as a foundation for a bullish move.
RSI Support:
The Relative Strength Index (RSI) is showing good support. RSI is a momentum oscillator, and support at a certain level can indicate potential strength in the ongoing trend.
Proposed Trade Strategy:
Entry: Consider entering a long position at the current market price (CMP) of 1348, given the observed support on the weekly chart and supportive RSI signals.
Stop Loss (SL): Implement a stop loss at 1262 to manage risk and protect against unexpected price fluctuations.
Target: Set a target at 1485, aiming for a potential price increase based on the identified technical factors.
Conclusion:
The technical analysis suggests a potential bullish opportunity for Whirlpool, with support observed on the weekly chart and positive indications from the RSI. However, it's essential to conduct further research, consider overall market conditions, and apply risk management strategies before making any trading decisions.
As with any investment, there are risks involved, and it's advisable to seek advice from a financial advisor or conduct thorough research based on your risk tolerance and investment goals.
The weekly chart indicates that Whirlpool has found support, suggesting a potential area where buyers are stepping in. This support could act as a foundation for a bullish move.
RSI Support:
The Relative Strength Index (RSI) is showing good support. RSI is a momentum oscillator, and support at a certain level can indicate potential strength in the ongoing trend.
Proposed Trade Strategy:
Entry: Consider entering a long position at the current market price (CMP) of 1348, given the observed support on the weekly chart and supportive RSI signals.
Stop Loss (SL): Implement a stop loss at 1262 to manage risk and protect against unexpected price fluctuations.
Target: Set a target at 1485, aiming for a potential price increase based on the identified technical factors.
Conclusion:
The technical analysis suggests a potential bullish opportunity for Whirlpool, with support observed on the weekly chart and positive indications from the RSI. However, it's essential to conduct further research, consider overall market conditions, and apply risk management strategies before making any trading decisions.
As with any investment, there are risks involved, and it's advisable to seek advice from a financial advisor or conduct thorough research based on your risk tolerance and investment goals.