Price and trend forecast of CASTROLIND for Tomorrow, Weekly, Monthly
Castrol India Limited
Symbol: NSE:CASTROLIND
ISIN: INE172A01027
220.83
As on 2024-10-17
CASTROLIND's Today's Performance
Castrol India Limited started the day by opening at 224.88 today 2024-10-17. Its shares reached a high of 225.75 and dipped to a low of 219.95 in intraday. When the markets closed, CASTROLIND’s stock price settled at ₹220.83 per share. Also check out its key support and resistance levels.
CASTROLIND Buy/Sell Targets
Tomorrow, sell CASTROLIND when its price reaches ₹ 220.83 with a stop-loss order at ₹ 223.61. You can set the target price as ₹ 218.05 to capture potential gains. This sell 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 | 224 |
| Tomorrow Down Target 2 | 228 |
| Tomorrow Down Target 3 | 230 |
Important Levels for CASTROLIND
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 219 |
| Tomorrow Up Target 2 | 216 |
| Tomorrow Up Target 3 | 213 |
Based on where the stock opens tomorrow, if CASTROLIND opens on a positive note, our first target will be ₹224. If Target 1 is achieved, we will aim for Target 2 which is ₹228.
But if CASTROLIND falls below the average value of ₹222.18, you can enter a sell side position with target number 1 - ₹219 and second target - ₹216 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 Decreasing 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 moderate bearish.
Tomorrow's Volume based share price Forecast for CASTROLIND
CASTROLIND's Volume is currently in a Decreasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is 69%.
Reversal detection for CASTROLIND
CASTROLIND may trend may continue to be bearish since stock is making lower low and we can get target of ₹225 in morning tomorrow
| Target 1 tomorrow | 224 |
| Target 2 tomorrow | 226 |
| Target 3 tomorrow | 228 |
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 ₹224.40. If Target 1 is achieved, we will aim for Target 2 which is ₹227.98.
But if CASTROLIND falls below the average value of ₹222.18, you can enter a sell side position with target number 1 - ₹218.60 and second target - ₹216.38
CASTROLIND's Weekly Targets
| 1st Up Target | 228.96 |
| 2nd Up Target | 237.08 |
| 1st Down Target | 216.33 |
| 2nd Down Target | 211.82 |
As the week for CASTROLIND ended on bearish sentiments, we can expect further continuation of this sentiment. CASTROLIND's initial target will be 228.96 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 216.33 in the upcoming week.
Weekly OHLC Values
| Open | 228.39 |
| High | 232.58 |
| Low | 219.95 |
| Close | 220.83 |
Week for CASTROLIND started with an open price of 228.39, and the close was at 220.83. CASTROLIND reached the highest of 232.58 and dipped lowest up to 219.95 last week. This indicates a bearish sentiment for the week.
CASTROLIND full month swing targets
| Monthly Up Target 1 | 241.59 |
| Monthly Up Target 2 | 249.71 |
| Monthly Down Target 1 | 203.70 |
| Monthly Down Target 2 | 186.56 |
Targets of ₹241.59 can be expected to be reached in the coming month. Once CASTROLIND achieved this target, we can aim for the next upside target of ₹249.71.
CASTROLIND if fails to hold upside, down targets of ₹203.70 and ₹186.56 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 224.40 in tomorrow's trading session.
After achieving the initial target in CASTROLIND, we will aim for higher targets of 227.98 tomorrow.
However, if CASTROLIND starts to trade below ₹222.18, then we will shift our focus to the sell side and aim for down targets of 218.60 and 216.38.