Mehul Kothari recommends to buy Jubilant Ingrevia, Whirlpool; Check Why

According to the technical analyst from Anand Rathi, Jubilant Ingrevia can rally to Rs 570, while Whirlpool of India can target Rs 1,600 on the upside.

BUY

Jubilant Ingrevia

Buy Near: Rs 570

Target: Rs 610

Stop Loss: Rs 550

The stock has been in a strong uptrend on medium-term time frame and recently it confirmed a range breakout above Rs 570 mark. This breakout has occurred above the 200-day SMA and EMA. The price action also resembles a bullish Cup and Handle formation.

Thus, we advise traders to buy the stock near Rs 570 mark with a strict stop of Rs 550.

BUY

Whirlpool of India

Buy Above: Rs 1,520

Target: Rs 1,600

Stop Loss: Rs 1,480

The stock Whirlpool seems to be a bit oversold on the smaller degree charts. We are witnessing a Hammer kind of formation on the daily scale and that could be a sign of some reversal. The daily RSI too has confirmed a bullish divergence.

Thus, we advise traders to buy the stock above Rs 1,520 with a strict stop loss of Rs 1,480.

(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).