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Visionary_Growth_Insights

SWING IDEA - CASTROL IND

Long
CASTROL INDIA (NSE:CASTROLIND)  
Visionary_Growth_Insights Updated   
NSE:CASTROLIND   CASTROL INDIA
Technical Indicators Chart Patterns Trend Analysis CASTROLIND swingtrading indianstocks nse Technical Analysis priceaction buyzone breakouttrading
16
0
indicator chartpattern trendanalysis castrolind swingtrading indianstocks nse technicalanalysis priceaction buyzone breakouttrading
There seems to be a strong breakout in CASTROL IND. This could potentially be an excellent swing trade.

Reasons are listed below :
  • Multiple tests on 161 levels and finally the price broke these levels with high volumes.
  • Marubozu candle (bullish sign) on weekly timeframe.
  • Breakout after a strong consolidation of 5years.
  • Stock price is above 50 and 200EMA i.e the trend is intact.

Target - 213 // 242 // 271
StopLoss - weekly closing below 145 levels
Trade active:
Stock retested the crucial levels and bounced back as we expected.
We are 4% up from our buying price.
Trade closed: target reached:
we achieved our first target 17.5%
Comment:
Price retraced and took support from 186 level.
We can hold this for further targets.
Comment:
Achieved 27%++
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