Whirlpool of India Limited (WHIRLPOOL) Stock - Complete Technical Analysis - Nov 21, 2024

Whirlpool of India: Oversold Levels or Further Downside Key Analysis

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's stock demonstrates bearish momentum, trading significantly below its key moving averages, including the 10-day EMA of 1872.41 and 20-day EMA of 1972.33. The RSI and Stochastic Oscillators indicate deeply oversold conditions, offering an opportunity for a potential rebound in the short term. However, the MACD remains negative, reinforcing the broader bearish trend.

The stock's recent price action shows consistent weakness, with five consecutive sessions of lower closing values, pointing to a downtrend. Support is seen at the 52-week low near 1186, while immediate resistance lies at the 200-day SMA of 1878. Watch for a breach of these levels to confirm further price direction. Increased ATR values highlight elevated volatility, making the stock suitable for intraday or swing trades for risk-tolerant investors. Traders should remain cautious and consider using stop-loss orders to mitigate potential downside risks in this volatile environment. Long-term investors might wait for improved fundamentals or clearer trend reversals.