Momentum Trades — EIH Ltd & Whirlpool

Sriram Balasubramanian
Coinmonks
Published in
3 min readMar 25, 2022

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Here are my stock trades/set-up explanations & charts!

Photo by Isaac Smith on Unsplash

Trade Date: 17 March 2022

EIH LTD:

How and Why do I trade EIH Ltd today?

  1. The MACD and Stochastics set up on the daily chart were looking promising.

2. Hotels, as a sector, are doing well.

3. RSI was above 50, which gave me some confidence

4. MACD had a Golden Cross (GC) below the zero line

5. Volume was picking up and went above its moving average

EIH trading in a range, and one can also draw symmetric or ascending triangles.

With a risk/reward ratio of at least 2, I will be positioning a stop loss at about 3.5% and expecting about 7% if the trade goes in the right direction.

Look at the MACD / Stochastics & RSI setup.

WHIRLPOOL: WHIRLPOOL CORPORATION OF INDIA LIMITED

Whirlpool of India bounced off major support at 1533 and with MACD & stochastics had a golden cross indicating probably bullish momentum.

RSI is yet to cross above 50, which will confirm the trade direction.

I hope you liked the trades and explanation. Do share your thoughts on this trading strategy or any advanced techniques. Every week, I will update my trading log and post it in subsequent updates.

Do your due diligence if or when placing a trade. All ideas stated here are my own and do not represent trading or investment advice.

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Sriram Balasubramanian
Coinmonks

Building WIBE to enable people to trade stocks to generate consistent cash flow. I enjoy writing on Wealth of all types!