Castrol india looking good for long term investment perspective. Technically its bullish falling wedge pattern. Targets are really open upto all time high. Also i have given further guidance as per fibo extension. it could easily double in some time.
The market leader in the segment available at a very decent price. While looking it on a larger TF, this script come out of a triangle and gave a nice BO. Closing above 160-164 will give a very good return in coming months. Closing below 100-95 is not good for this stock. If the bull run supports the volume, this may get back to its actual valuation.
Kindly note...
Good volume buildup in daily and weekly timeframe.
Box pattern breakout and price trading in between raising wedge pattern.
NOTE: I do my analysis, do yours before trade.
Castrol is a safe stock which has shown an amazing trendline breakout.
Stock provides a good dividend yield as well.
If trend continues in upward direction, stock can test ATH and make new highs in medium term.
Keep in watchlist. Levels mentioned on chart.
CASTROLIND:- Breakout of falling wedge has been found and if it sustains above 147.30 level then downside movement can be seen.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check...
CASTROLIND has given a beautiful trendline breakout plus the sector being in a strong uptrend, this trade should not be missed. Risk reward is huge as the SL here is miniscule. SL should be below 197. Hold for couple of weeks for good targets
most important is
52week and six-year high breakout with volume rise and very important point is stock is retext & give a good support zone which is already broken resistant zone with h volume .
targets are open on chart but .. respect to SL like me of discipline trader.
share Dividend ₹ 4.50 /share
ex-date 21 march
Castrol India at near six-year...
fundamentally good
earnings also positivse
trading inside channel, now there is double bottom also going
incase of breakout wait for retracement and go for entry
Technical Study
Time Frame taken for study - Monthly
Study -
1. Downtrend Line broken with continuous increasing volume
2. Resistance near 162
3. After a fall, consolidation seen with some volume spikes
Resistance or Targets -
1. 182
2. 216
3. 272
Supports or Stop Loss
1. 120 (dip till)
2. 100
Fundamental Study
Market Cap - ₹ 13,704 Cr.
Stock P/E...
Castrol India has given breakout of cup and handle pattern on weekly time frame. We need one more confirmation (pls refer my other charts to refer when we can state a confirmed confirmation). We can expect the price to move to 215+. Other factors:
1. Volume candle: pls see last weekly candle, big buy has happened
2. RSI on weekly basis is above 60; bullishness
3....
The stock has formed a beautiful rounding bottom pattern which shows the 3 phases on weekly basis , also the volumes are quite unprecedented . The fundamentals of the company are also solid and enhances reliability . Castrol has been a household name and from the overall sector analysis the stock has favourable and the lowest PE RATIO , also it has been in...
