The analysis is done on Weekly TF hence price may take few weeks to few months in order to reach the targets. Trade setup is explained in image itself.
When price reverses from major support (after major downtrend) and breaks above major resistance zone, it signals towards a major trend change towards upside.
The above analysis is purely for educational purpose....
How to do good in the markets ? - Buy low and sell high :-D
Well, in this article, I will try to explain how can you really do well in the markets, practically. Not just an advice like - Buy low and sell high.
Here's an explanation for this analysis:
Fundamental:
1. A Market leader - Castrol is the second highest market share holder with more than 20%...
We can see a good VCP pattern in this share and xabcd harmonic pattern which are giving targets of 166 in this particular script on monthly we can se a good big bar inside candle
Forming a bearish flag pattern on day chart, but available at an attractive price. One can accumulate for long term investment. Traders can short if we get a breakdown. Note : for educational purpose only.
Castrol is very close to a strong support zone on the monthly chart. Long term investors of castrol can look forward to average at this price. Note : For educational purpose only.
Levels mentioned on the chart.
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Dhiraj Singh Bais
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NSE:CASTROLIND
The stock itself take support on the support line and shown a big bullish green candle. For now the stoploss will be 127 and profit target is 150, or you may say the resistance line is the main profit target area.
Castrol India has been respecting these trend-lines since 2007 August, when it began its journey. Now we can see a clear breakout, but it is respecting the 50 EMA and hence it might retest the breakout level. If so, enter at this pullback with minimum stop loss and ride the trend. It is in monthly timeframe. So after an initial leap, the growth might be slow....
MACD crash alert
Narrow range
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Castrol, after months of consolidation showing strength and possible trend reversal. The stock has decisively broken out of the trendline resistance on weekly chart supported by rising volume. Prior Highs can be the potential targets. (marked on chart). Follow me if you like the ideas.
NOTE- Do your own analysis before taking the trade. This is not a "buy" or...
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...
