SWING IDEA - CASTROL IND

Updated
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%
Note
Price retraced and took support from 186 level.
We can hold this for further targets.
Note
Achieved 27%++
Note
Price is consolidating, if we get a weekly close above 215 then up move is possible
Note
HOLD
Note
we could see 242 levels soon, hold!
Trade closed: target reached
2nd target achieved : 40%++
Note
Achieved 44%++
Note
50%++ achieved
Trade closed: target reached
3rd target achieved : 54%++
Note
hold!
Note
bullish engulfing candle on weekly timeframe, we can see further upmove
Note
made a new high, we are up by 58%++
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