Whirlpool of India Limited (WHIRLPOOL) Stock - Complete Technical Analysis - Nov 11, 2024

Whirlpool of India: Key Levels & Technical Insights for Traders Stock Analysis Partha Kuchana

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Whirlpool of India Limited (WHIRLPOOL) has been showing mixed performance lately, trading at 1,932, which is about 21% off its 52-week high of 2,449. The P/E ratio of 91.4 signals a high valuation compared to earnings, and profitability metrics such as ROCE (8.34%) and ROE (5.69%) are relatively modest. The stock is currently oversold with an RSI of 30.39, signaling potential for a rebound. MACD shows weak momentum, and the ADX indicates a moderate trend strength.

Price action has been volatile with significant fluctuations in the last few days, suggesting that traders should be cautious of sharp price movements. The stock has been facing resistance near 2,080, and a breakdown below 1,900 could trigger further downside. Key support levels are at 1,900 and 1,830, while resistance remains strong at 2,140 and 2,080.

Considering the current technical indicators and price trends, Whirlpool may experience a short-term correction or reversal. Traders should closely monitor the price action and look for a breakout above the resistance or a confirmation of a breakdown below support to make an informed trading decision.