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

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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