SagirKazi

Castrol India - Rectangular Breakout above 135

Long
NSE:CASTROLIND   CASTROL INDIA
Entry – CMP ie 135 (Breakout was 134.9)
Stop loss – 129 or 114 (Deep Stop) (135. 05 if Price Runs up above 152.5)
Target 1 - 177
Target 2 – 194.2
Target 3 – 220.25
Duration - 3 - 5 years

Co has well established network of Engine Oil and Good Brand Value Products in this segment.
Fundamentals are decent with dividend yield of 2.2%.
Co has been Debt Free for years.
Top line and bottom line is showing consistent growth.

Technically Stock is showing Breakout from its Accumulation Zone. Rectangular Breakout on its Weekly Chart hence higher levels can be seen.
Trend line breakout seen on Monthly Chart.


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