CASTROLIND trade ideas
Castrol India Castrol India
💠 Expecting 25% returns in short term (3 months)
🔸 Market Cap above 14000 Cr.
🔸 Highest volume in past 18 months.
🔸 Avg 1 wk volume is almost 4 Million.
🔸 Company has a good ROE & ROCE track record above 40%
🔸 Company is almost debt free.
🔸 Stock is trading at same levels of 5 years ago.
🔸 High dividend paying company.
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CASTROL INDIA LIMITEDCastrol India Limited Chart is quite strong with Bullish View and looks promising at CMP 147.00.
Patterns are drawn on Monthly Chart and as usual complex & detailed drawing is presented considering all the aspects of the chart.
Targets & SL are as follows:
Tgt 1: 185.00
Tgt 2: 210.00
SL: 120 (Closing Basis)
Market is all about OPPORTUNITY / ENTRY / TIMING !!!!!
Basis some minute observations, chart analysis is made, target and SL is given to understand the core of the subject for learning purpose only.
CASTROLIND-DAILY/WEEKLY/MONTHLY-BREAKOUTNSE: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 candle (Inverted Hammer). Things get interesting over here. The rejection candle didn’t get follow through.
• If we look carefully whole week the stock was trading between the range. July first week we can see a boom!
Daily: We can see buying from 122-123 levels from last few days and on Friday (7th July) We can see a big green candle with good volume.
It’s good time to go long for 155-160 targets.
SL: 117
I have already taken this trade.
This is only for educational purpose, please manage your risk accordingly.