Triangle pattern break out and correction coming look for buy at previous resistance and if it breaks we can go for buy at trendline retest range.castrolind has potential of 40 to 50% returns.
CASTROLIND
1) Time Frame - Monthly.
2) The Stock has been consolidating since August, 2018 and has given a breakout with strong bullish momentum & Huge volume.
3) The stock may reach its previous All Time High (272) in long term.
4) Recommendation - Strong Buy
Target 1 232
Target 2 ATH
Great financial
Negative sentimental drag it down
Good for accumulation
Good for both short and long term.
Business model is good.
Hello & a warm welcome to this analysis
Stock appears to be consolidating near its ATH level of 197 with strong support at 175 and then 165-130.
Probable upside levels could be 245 & 345 in the medium to long term
Happy Investing
CASTROLIND – Swing trade
Took support and showed good signs of uptrend
Buy above 145 | Tgt 170 and 185 | sl 130
It is my view, to trade on your own analysis
a 9 year falling trendline is broken in Castrol.... it will face multiple hurdles now in its upmove.
But to compensate that, remember it was an excellent dividend payer....
So you buy and hold for 3 years... if bought right now... you will enjoy 3 years of great dividend and slow upmove..
will give u peace of mind....... that's most important..
1st Target...
The "Castrol India Big Breakout" trade idea suggests a significant and potentially trend-defining movement in the stock of Castrol India Limited. A "big breakout" typically implies that the stock is poised to breach a key resistance level, signaling a potential shift in its price dynamics. Traders and investors may be anticipating a substantial upward movement,...
This was topped out in Dec-2014, and formed Lower high till year 2023.
after 4 month consolidation TL BO with higher volume is confirmed the BO .
Short term 200 is the resistance but after closing above that level 300+ level possible
Castrol India has given a strong breakout on Daily and weekly time frame.
It has 2 patterns - Rounding Bottom and Inverted Head and shoulders
Breakout is completed in INverted H&S pattern @ 160
Rounding Bottom Breakout is at 170 level.
SL and demand is at 148 levels.
Looks a strong candidate for coming year.!
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....
Castrol Ind looks very attractive..
Fundamentals : Very Strong, Consistent growth on Sales, Profits and EPS. High Reserves vs very low debt. Only slight negative point is FIIs holding decreased in recent quarter still overall parameters are healthy
Technicals : Very Bullish above 180 on weekly closing.. Harmonic pattern active + strong reversal indication with...
