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Price and trend forecast of CASTROLIND for Tomorrow, Weekly, Monthly

Castrol India Limited

Symbol: NSE:CASTROLIND

ISIN: INE172A01027

230.21

As on 2024-10-09

132.40 (52W Low) 284.40 (52W High)

CASTROLIND's Today's Performance

Castrol India Limited started the day by opening at 227.40 today 2024-10-09. Its shares reached a high of 232.20 and dipped to a low of 226.49 in intraday. When the markets closed, CASTROLIND’s stock price settled at ₹230.21 per share. Also check out its key support and resistance levels.

CASTROLIND Buy/Sell Targets

Tomorrow, buy CASTROLIND when its price reaches ₹ 230.21 with a stop-loss order at ₹ 225.79. You can set the target price as ₹ 234.63 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of CASTROLIND for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for CASTROLIND

Downside Targets Value in ₹
Tomorrow Down Target 1 233
Tomorrow Down Target 2 235
Tomorrow Down Target 3 238

Important Levels for CASTROLIND

Holding Levels Value in ₹
Tomorrow Up Target 1 227
Tomorrow Up Target 2 224
Tomorrow Up Target 3 221
Based on where the stock opens tomorrow, if CASTROLIND opens on a positive note, our first target will be ₹233. If Target 1 is achieved, we will aim for Target 2 which is ₹235.

But if CASTROLIND falls below the average value of ₹229.63, you can enter a sell side position with target number 1 - ₹227 and second target - ₹224 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of CASTROLIND

Looking at CASTROLIND, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, CASTROLIND has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for CASTROLIND is strong bearish.

Tomorrow's Volume based share price Forecast for CASTROLIND

CASTROLIND's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a strong bearish trend. Volume trend strength over the last month compared to the last week is 69%.

Reversal detection for CASTROLIND

Predicted trend chart of CASTROLIND tomorrow for price forecast
CASTROLIND may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹223 in morning tomorrow
Target 1 tomorrow232
Target 2 tomorrow233
Target 3 tomorrow235
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with CASTROLIND's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if CASTROLIND opens on a positive note, our first target will be ₹232.78. If Target 1 is achieved, we will aim for Target 2 which is ₹235.34.

But if CASTROLIND falls below the average value of ₹229.63, you can enter a sell side position with target number 1 - ₹227.07 and second target - ₹223.92

CASTROLIND's Weekly Targets
1st Up Target 235.66
2nd Up Target 241.12
1st Down Target 221.56
2nd Down Target 212.92

As the week for CASTROLIND ended on bearish sentiments, we can expect further continuation of this sentiment. CASTROLIND's initial target will be 235.66 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 221.56 in the upcoming week.

Weekly OHLC Values
Open 230.40
High 232.47
Low 218.37
Close 230.21

Week for CASTROLIND started with an open price of 230.40, and the close was at 230.21. CASTROLIND reached the highest of 232.47 and dipped lowest up to 218.37 last week. This indicates a bearish sentiment for the week.

CASTROLIND full month swing targets
Monthly Up Target 1 249.76
Monthly Up Target 2 255.22
Monthly Down Target 1 207.46
Monthly Down Target 2 184.72

Targets of ₹249.76 can be expected to be reached in the coming month. Once CASTROLIND achieved this target, we can aim for the next upside target of ₹255.22.

CASTROLIND if fails to hold upside, down targets of ₹207.46 and ₹184.72 can be achieved by end of this month.

For complete three weeks if CASTROLIND is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as CASTROLIND

Symbol Name Industry
RELIANCE Reliance Industries Limited Oil & Gas Refining & Marketing
ADANIENT Adani Enterprises Limited Thermal Coal
ONGC Oil & Natural Gas Corporation Limited Oil & Gas Integrated
COALINDIA Coal India Limited Thermal Coal
IOC Indian Oil Corporation Limited Oil & Gas Refining & Marketing

Summary

CASTROLIND is expected to reach the target of 232.78 in tomorrow's trading session.

After achieving the initial target in CASTROLIND, we will aim for higher targets of 235.34 tomorrow.

However, if CASTROLIND starts to trade below ₹229.63, then we will shift our focus to the sell side and aim for down targets of 227.07 and 223.92.