It is been observed on the daily chart that the price action is breaking above the trendline resistance, indicating further bullishness ahead. It shall further move up as higher lows also formed.
Descending Triangle pattern on Castrol India and it will break only on downside or if broken in other side is consider as false breakout / pattern failure.
Short below - 396.00
Target 1 - 385.50
Target 2 - 375.50
Stop loss - 405
CastrolInd is giving a Buy Setup on 60mins timeframe. It correction can break on the upside soon.. One can Buy the stock at the breakout with stoploss just below the low with targets of around 465.
Siraj Hudda, CFTe