| CMP# | 131 |
| Idea | BUY |
| Buy Range | 125 – 128 |
| Target | 137 – 139 |
| StopLoss* | 123 |
| Duration | 15 – 20 Trading Sessions |
| Potential Return^ | 5 – 6% |
| CMP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 131 | BUY | 125 – 128 | 137 – 139 | 123 | 15 – 20 Trading Sessions | 5 – 6% |
# CMP on July 17, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 134.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
Headquartered in Mumbai, Castrol India owns around 48% market share in the overall Indian lubricant market and is the largest manufacturer of automotive and industrial lubricants in the Indian lubricant market. The company engages in manufacturing and selling engine oils, lubricants, transmission fluids, antifreeze products, coolants, greases for motorcycles, buses and trucks. Their nonautomotive product segment serves aerospace, marines, energy, machinery, metals and mining sectors.
| Stock Data | |
| NSE Code | CASTROLIND |
| Sectoral Index | Nifty 500 |
| 52W High | 177.8 |
| 52W Low | 123.25 |
| Face Value | 5 |
TECHNICAL OBSERVATIONS (WEEKLY)
- As we see in the weekly chart the lows around also correspond to previous intermediate lows which were tested in the year 2011 and 2012, thereby making it strong support.
TECHNICAL OBSERVATIONS (DAILY)
- The stock extended its northward journey post a crucial break-out in Daily Chart.
- Recent closing above 15 days Moving average which considered bullish and helps to propel further upside movement.
- Price is trading near the Upper Bollinger Band which shows bullishness.
CONCLUSION - Castrol India SHARE PRICE FORECAST
Based on our positional trading advice of stocks, Castrol India share price target will be 137 – 139 in the next few days.