Here's why Mehul Kothari is bullish on Hindustan Petro, Whirlpool

According to the technical analyst from Anand Rathi, Hindustan Petroleum can be bought near Rs 237, while Whirlpool of India should be bought above Rs 1,680.

HINDPETRO

BUY

Buy Near: Rs 237

Target: Rs 250

Stop Loss: Rs 230

Recently the stock underwent massive recovery from the lows near Rs 200 mark. During the process, the stock has confirmed a higher top and higher bottom formation on the daily time frame which indicates change of trend.

At this juncture, the stock looks good for further bounce. Thus we advise traders to buy the stock near Rs 237 for an upside target of Rs 250 in the coming sessions.

WHIRLPOOL

BUY

Buy Above: Rs 1,680

Target: Rs 1,620

Stop Loss: Rs 1,780

Since the past few months, the stock has attempted several times to clear the multiple resistance level at Rs 1,680. Once again the stock is on the verge of a range breakout and the price action indicates high possibility of the same.

We may witness a faster upside momentum above Rs 1,680 mark. Thus, we advise traders to buy the stock above Rs 1,680 mark for an upside target Rs 1,780 in the coming sessions.

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