Castrol - At crucial resistance NSE:CASTROLIND near its resistance with RSI indicating over bought
One can short it below 403.70
T1 - 387.15
T2 - 373.90
SL - 424.40
CASTROLIND trade ideas
#CASTROLINDReversal on Weekly Basis confirmed
CCI > -100 on W
On D, CCI>100 (reversal confirmed)
Target 450 from first reversal strength candle
SL 360
Castrol on high rangeNSE:CASTROLIND has moved towards its upper band while staying on the negative trend
CMP - 378
Short below - 374.50
SL - 386 (breakout above that)
Target - 355 / 340
Castrol India Double/Triple BottomCastrol India Double/Triple Bottom
Created Hammer a day before yesterday and yesterday it created Doji and today Shooting Star
Seems like Good support which is hard to break so Lets go long with proper SL
Long at/above 355 with 347 SL
Target - 38.2% Retracement
#Castrol #Bullish bat #Channel Bottom #Demand Zone #RSI BullishCastrol India CMP 361.55
Target 370-375-380+
SL 349
Best Buy 355-358 Levels (All Levels are Cash levels)
castrolClassical charting 101: Edwards and Magee specified that valid breakout must move 3% past boundary line.
so following that strategy will be sell below 354 sl 366 target 300 and below
Castrol - Double support!NSE:CASTROLIND has taken double support with double bottom as well and trendline.
Castrol has also made a dogi at the bottom in a down trend signaalling reversal.
Buy Castrol above 365
Target - 370 / 393 / 407 High probability that Castrol will at least breach second target
SL 350. Short SL 356
CASTROL INDIA DAILY CHART Everything explained on the chart.. Rounding bottom is a very strong trend, have to wait for confirmation...
Castrol IndShort 400 CE @ 1.65 .... 1.65*1400=6600 profit if castrol stays below 400 at expiry
Short 370 PE @ 1.25 .... 1.25*1400=1750 profit if castrol stays above 370 at expiry
Castrol - Possible Ascending Triangle BreakoutCastrol is currently consolidating. There is a possibility of a symmetrical triangle breakout. Go long at 390 for initial target of 400 and CBSL of 384
Intraday In CASTROLINDCASTROLIND Is BUY Above 395.5 Target 400 SL@ 393
SELL Bellow 390 Target 387 SL@392
Castrol : The Simpler it is, Smooth it will be !After Retesting the zone of 397's , expecting Castrol to move further down towards 387's zone. The trade setup is simply based on Support turned Resistance Retest, will see how the trade pans out... !
Possible small term long set up i am looking this stock as possible buy on two views
01) if the stock brakes and tag to lower TL i am looking for long for Target of 420
02) it is also possible the price can slide side ways and brakes the upper trend line and can make impulsive move to Target 420
Lets see what happens on Monday
Regards
Castrol India - Breaking Trendline and Forming Higher LowsIt 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.
Target: 418
Stoploss: 405
Descending Triangle on Castrol IndiaDescending 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.
Trade:
Short below - 396.00
Target 1 - 385.50
Target 2 - 375.50
Stop loss - 405
CASTROLIND: Expect UP Swing after Consolidation.Perfect Oldest HARMONIC Pattern: Perfect Bearish ABCD
Where Length of "AB" = 21.80 & "CD" = 23.90 (Nearer Equal)
Attempting CUP Pattern (Traded at Bottom of "CUP" )
RSI +VE Divergence in Daily Chart.
Go LONG: @ 400.10 - @ 400.90
Best Buy or Accumulation Zone: @ 398.50 - @ 396.10
TARGT (intraday / Swing): @ 402.70, @ 404.60 , @ 406.70.
TARGT (Short Term): @ 409 (Strong), @ 413, @ 417 (Strong), @ 422.60 - @ 426 (HZ ), More on Chart.
SL: @ 391- (By Closing) or @ 386.40 (Intraday Swing).
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Disclaimer: Only For STUDY.
For taking Trade Decision Consult Financial Advisor.
will CASTROL slip again???stock is in down trend
bounced from low
it's seems the original trend is resuming
below 406 towards 401/396/389
sl 420
is castrol continuing its journey towards south?Castrol is in downtrend forming pattern of lower highs and lower lows, so may be its play on short side keeping sl 408. But observe price action before going short.
Castrol Hoisting A Bearish FlagTargets : 384 Sell range : Below 408 Stoploss : 439 Duration : 3-4 weeks
Daily timeframe chart of this stock (CASTROLIND) has been in a sharp down trended move over the last few sessions..
Presently, the stock has witnessed a breakout of an “Inverted Bearish Flag” pattern on the daily charts with surge in volumes. After a sharp downside breakout of last week, the stock prices have started to show follow through weakness during this week.
Primary trend of the stock has been bearish,as the 9-45 EMA on Daily chart is still negative, also the stock prices are comfortably trading above our important Trend indicator (Red line), which confirms the bearish momentum to continue for short to medium term.
Moreover, Technical indicators are trading negative, RSI is 37 with negative bias, MACD: -5.62 and Signal Line: -4.31 trading weak,Weekly ADX minus DI has crossed above plus DI today, which shows bearishness for medium term, Also Weekly bearish MACD line has crossed below signal line today. Stock trades below short term and longer term moving averages which confirms a persisting downtrend.
The negative chart setup in CASTROLIND is suggesting a short trade opportunity here. Look to initiate short trade as per the levels mentioned above.
