Castrol India Ltd.
After reading the graph which goes back alost three years, one can see that this is a downward slope graph. The stock has fallen down from 208 to 111 CMP. Reading the graph for 2020, the fall which was expected to come around September was experienced in March because of the lock down. Also, upon conducting a trade volume analysis, it is visble that the Share was overbought in the month of February,2020, thus the fall was inevitable. If things were normal, we could have observed seen the share going as low as 90 in the month of september. Coming to the future prospect of the share, after drawing the pitchfork trendline (6-Months), it is visible that the stock is currently trading the lower imbalance of the pitchfork. The pitchfork trendline for 3 years depict that, the share was trading in the upper imbalance for a long period and has been in the lower side of the pitchfork. The future of the share as per me is:
1. if the trendline conitnues, the stock could go as low as 85 (-24.07%) in the month of December.
2. If the trendline breaks, it may go as high as 135 (+20.59%) in the month of december.
The course of the trendline will be evident near the end of October and the start of November.
1. if the trendline conitnues, the stock could go as low as 85 (-24.07%) in the month of December.
2. If the trendline breaks, it may go as high as 135 (+20.59%) in the month of december.
The course of the trendline will be evident near the end of October and the start of November.
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