OUR RECOMMENDATION
| CMP# | 154.5 |
| Idea | SELL |
| Sell Range | 158 – 153 |
| Target | 142 – 132 |
| StopLoss* | 162.5 |
| Duration | 25 – 30 Trading Sessions |
| Potential Return^ | 11 – 18% |
| CMP# | Idea | Sell Range | Target | StopLoss* | Duration | Potential Return^ |
| 154.5 | SELL | 158 – 153 | 142 – 132 | 162.5 | 25 – 30 Trading Sessions | 11 – 18% |
# CMP on Nov 21, 2018
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 147.
^ 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. Castrol India’s Q2 profit zooms to Rs 150 crore for the September 2018 quarter, against Rs 178 crore in the year-ago period.
| Stock Data | |
| NSE Code | CASTROLIND |
| Sectoral Index | NIFTY 50 |
| 52W High | 213.95 |
| 52W Low | 134.95 |
| Face Value | 5 |
TECHNICAL OBSERVATIONS (WEEKLY)
- The share price of Castrol India has been a declining trend since it’s lifetime high of ₹ 272 registered during end 2014.
- The stock price had given the breakout of the support line during mid 2018 and since then downfall accelerates further.
- Similar to earlier historical evidence, once the price touched the falling resistance line, we hope the price will move downwards.
