Rectangular pattern Breakout after good Consolidation.
Volume Buildup .
Good for Short term.
Target 252 , 305 ,360 .
Do Like ,Comment , Follow for regular Updates...
Keep Learning ,Keep Earning...
Disclaimer : This is not a Buy or Sell recommendation. I am not SEBI Registered. Please consult your financial advisor before making any investments . This is for...
NSE:CASTROLIND
Stock is consolidating in a channel from past 8 years. From last year it’s started to making higher low in weekly/Monthly Chart.
Monthly : As per monthly analysis stock has shown a bullish engulfing at bottom levels.
Weekly:
• June 2nd week we can see a big green candle engulfing past multiple weeks.
• June 3rd week there is rejection...
Castrol India, a good news driven moment started. Entering into EV space. Breaking the horizontal boundary. Look for entry into it.
I have few quantities from the beginning of rally and will be adding more after this level sustains.
There is been a positive shift in the price structure of the stock.
Sustaining 110 levels, the stock is probably moving towards 125 - 130 levels in the coming weeks.
Trade type: Positional long call
Castrol India is in range bound Buy low at 113 and sell high at 131 if it doesnt give breakout. if it gives breakout at 131 strong buy till 140 and 160 levels
We feel investors could buy the stock at LTP and add on dips to Rs 106 –108 band (~12.5xCY21E EPS) for a TGT of 128/136.
On hourly chart data is strong as its above VWAP+MACD cross over + TK line crossover and on daily chart strong data starts to form with approaching cloud breakout we assume the trend to continue. So buy at correct price and dip with 2 quarter...
