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Castrolindia

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.
NSE:CASTROLINDShort
by The90sTraderOfficial
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.
NSE:CASTROLINDLong
by Rushikesh_09