SWING IDEA - CASTROL IND

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

İşlem aktif:

Stock retested the crucial levels and bounced back as we expected.
We are 4% up from our buying price.

İşlem kapandı: hedefe ulaştı:

we achieved our first target 17.5%

Yorum:

Price retraced and took support from 186 level.
We can hold this for further targets.

Yorum:

Achieved 27%++

Yorum:

Price is consolidating, if we get a weekly close above 215 then up move is possible