CASTROLIND trade ideas
Castrol India - 5yr Down Trendline Breakout / 1.5yr Channel BOSuggested by @monkmaxims
The stock had been in a down trend since forever (7yrs on monthly chart). Since 2020 crash, the stock was in low volume accumulation
in a parallel channel. Suddenly, the accumulation volumes began to shoot up in November while the price continued to trade in the channel.
Finally, this week it has broken out and how!
Highest weekly volume seen since last year, in the breakout week. The weekly closing candle looks like a decisive candle.
Good fundamentals, likely to do well in the coming weeks/months.
SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
Short term TGT: After a 10-15%+ vertical move, breakdown of 20MA on Hourly chart (on a daily close basis)
BUY GUIDANCE:
Never ever buy before 3PM. I have been burnt many many times.Try to buy between 3:15 - 3:30PM, later the better.
SELL GUIDANCE:
Selling in Profit:
Sell earlier in the session when the prices are higher, around 11AM.
Selling at SL:
Give your stock a chance to recover by end of session. If it doesn't recover, sell anywhere between 3:00 - 3:30PM.
Note: I reserve the right to be wrong.
DISCLAIMER:
I am not a SEBI registered analyst. Please consult your financial advisor before investing.
CASTROLINDIf price breaks and sustain above 140 level then we can see next targets 170,200,240 very soon..
Currently volume is increasing and also consolidation is going on so price can break 140 level.
you can enter @ 129 - 130 level with SL 116.50 OR enter after crossing 140 level.
Above analysis is for study purpose only..
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Thank you
CASTROL India- BreakoutCastrol, 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 "sell" advise.
Castrol India LongHigh volume breakout from the channel can be seen in NSE:CASTROLIND
Watch out for retest, Position your entires accordingly.
5 YEAR BREAKOUT WITH VOLUMESUCH A HUGE RESISTANCE FROM PAST 5 YEAR AND TRULY BREAKOUT WITH VOLUME DOESN'T NEED ANY CONFIRMATION JUST GO WITH THE FLOW
CASTROLIND | Wedge breakout - Can see 80%CASTROLIND | Wedge breakout - Can see 80%
CMP : 142 (Dip : 136)
SL : 125
Target : 175, 250
SWING TRADE : CASTROLIND1. Buy above BO 140
2. TARGET 170/210
3. SL 120
Analysis:
1. Breakout happened on descending channel
2. Now It is in accumulation phase.
3. 2 times rejected at 140 level.
4. We may see the uptrend if it breaks the accumulation zone.
Disclaimer: This is educational purpose only.
Please share your thoughts in the comments section below.
Castrol India - Rectangular Breakout above 135Entry – 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.
Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.
Please like Share and Comment if you like our work.
about to break weekly resistence. two channel pattern with same momentum.
can expect target of 175 (25% from CMP)
#the_pravin #simplepriceaction #chartreading
CASTROL - LONG TERM HOLDA company that has strong fundamentals. After a long consolidation, the support is broken. first target is 150.
CHART STUDY, not a call
CASTROL INDIA EQUITY levels ...24/05/2021 (W candle)😊CASTROL INDIA EQUITY levels ...24/05/2021 (W candle)
Castrol India Weekly chart - LONG Castrol india go long bullish wolf wave pattern formed in weekly CHART.
T1- 136
T2 -167
T3 173
All view are educational purpose...
Can expect good returns if breaks the above resistance trendlineVery old trend-line and can see good up move if it breaks this.
Castrolind - Will break the trend line Price rejecting from the trend line from the top and it is finally getting ready to break.
