CASTROL potential breakout - Strong prior uptrend
- VCP formation
- Volume dry-up
- Forming higher lows
- Tight price action
- Low risk entry
Castrol
Castrol India (NSE: CASTROLIND) ForecastBased on the 4-hour chart for Castrol India (NSE: CASTROLIND), here is the summary:
Key Levels:
- Resistance Zone: 200-210
- Support Zone: 175-185
Current Price:
- Current Price: 187.65
Chart Analysis:
1. Downtrend: The stock has been in a downtrend, as indicated by the descending trendline.
2. Support Zone: The stock has reached a support zone between 175-185, where it has shown some consolidation.
3. Potential Bounce: If the stock finds strong support and breaks above the descending trendline, it could head towards the resistance zone.
- Buy Target (TP): 207
4. Bearish Scenario: If the stock fails to hold the support and breaks below 182.85, it could fall further towards the lower end of the support zone.
- Sell Target (TP): 175
Strategy:
- Wait for Breakout and Weekly Close: It is suggested to wait for a breakout above the descending trendline and a weekly close above this level to confirm the trend reversal before entering a buy position.
- Buy Position: If the stock breaks above the trendline and closes above 190 with good volume, consider buying with a target of 207.
- Sell Position: If the stock breaks below the immediate support level of 182.85, consider selling with a target of 175.
Conclusion:
- The stock is at a critical juncture, and the next few trading sessions will be crucial in determining its direction. Monitoring the price action around the support zone and the descending trendline is essential for making informed trading decisions.
CASTROLIND 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 Educational purpose only.
CASTROL INDIA - Looks GoodThere 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 Buy low Sell high 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
R-0143 Invest in Castrol India on long term for TGT 128/136We 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 holding period.
Castrol looks good for upmoveCastrol broke out today and looks ripe for an upmove in short-term with 380 as sl.
CASTROLIND breaksoutCASTROLIND breaksout - A probable Major 4th wave completion of the Primary 3rd wave.
