PL Technical Research: Buy CASTROL INDIA - Medium Term Tech Pick

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd

BUY CASTROL INDIA CMP: 116 TRGT: 127 SL: 111 - MEDIUM TERM TECH PICK - The stock after the short correction has consolidated near 112-114 zone forming a strong base and currently has indicated a bullish candle pattern on the daily chart moving past the significant 50EMA to improve the bias. Further rise is anticipated with the RSI also showing strength by showing a trend reversal, signaling a buy and has much upside potential to carry on the momentum still further ahead. We suggest buying and accumulating the stock for an upside target of 127 while keeping the stop loss at 111.