Hi everyone,
Let's discuss about one of the stock which is looking super strong on chart, it's castrolind. Anyone of us who owns an automobile or even any mechanical m/c must have came through the name of Castrol. It produces different types of lubricants for a wide variety of m/c.
If we look at its chart; It was in a downtrend since Dec'14 i.e. almost 9 years,...
Castrol India
Multiyear Breakout above 150
Lower High Breakout
High dividend paying company
This chart is only for educational, Do your own study before taking any trade
Castrol has been in a continuous downtrend since 2015 and has bottomed out at 100. The triangle pattern is clearly broken in this weekly chart and is ready to give out huge targets. Any dip towards 125 - 127 can be bought in with T1 - 152 and T2 at ~ 180 levels giving a risk reward of 1:4. SL to be maintained at closing below 110 on weekly charts. MACD and ADX...
CASTROLINDIA @ 146
multi year base ,
if manages to close above 148 on monthly basis then
we can see 180 / 250 + levels
Invalid Below 125 WCB
RR is good
Positional Trade
educational purpose
note - its not a buy or sell recommendation
We can see a good VCP pattern in this share and xabcd harmonic pattern which are giving targets of 166 in this particular script on monthly we can se a good big bar inside candle
Castro 9 yrs of trendline breakout...
Castrol broke 9 yrs of resistance trendline
With good volume and trading above that on weekly chart...
Buy @ 133.50 or wait for retracement near 127
Sl 120
Tgt 155-175-213 as per your holding the position...
Buy and hold 126-128 SL 110 T1 146 T2 173 -DKM SIR
chat looks picture perfect big player accumulate money in it buy and hold as per risk management
this is just for eduction didnt reccoamanded any reccomandation
In the Weekly Chart of CASTROLIND ,
we can see that; it is coming near breakout by building a strong Price Action.
Let it retest and then enter with SL.
Trend change in CASTROLIND, looking good for swing and short term with strict SL @ 110.50, TGT1 : 121.35, TGT2 : 125
Note : It's your hard earned money always trade with SL, I'm just sharing my analysis
