Pl Technical Research: Stock On Radar - Castrol

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

CASTROL IND, CMP: 134. 25 weekly chart: after a long 8 years of downward sloping channel, the stock has come out and is forming a higher bottom formation on the weekly chart with a trend reversal confirmation and almost a breakout above the resistance zone of the channel with bias showing improvement. The stock has already moved from 120 to 135 levels; one can buy now and in decline with support around 110 for an upside target of 155 for the short term and 200 for the long term.