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technical
pick
Castrol India Ltd Buy Castrol India Limited is an India-based company engaged
in providing coke and refined petroleum products. The
CMP: `393.65 (As on 01st Jul, 2016) company is involved in manufacturing lubricating oils.
Buy: `401-390 The company operates through two segments automotive
Target Price: `430-445 and non-automotive. The company's brands include
Stop-Loss: `375 Castrol Activ, Castrol Power1, Castrol GTX, Castrol
MAGNATEC, Castrol EDGE, Castrol CRB Turbo, Castrol
Castrol India Ltd VECTON and Castrol Go!. The company's products also
include Castrol CRB Multi, Castrol CRB Turbo Plus,
Castrol Vecton CI4+ and Castrol Magnatec Professional
OE 5W20. The company offers non-automotive lubricants,
such as industrial lubricants, and marine and energy
lubricants. The company operates across three market
sectors of the lubricants industry includes automotive,
industrial, and marine and energy applications. The
company offers products for cars, motorcycles, scooters
and trucks, among others. The company's holding
company is Castrol Limited.
Technical Outlook:
On the daily chart, we are observing that a price have
made a double bottom at 360 levels and is forming a
W-pattern. Further, we are observing that momentum
indicator is gaining strength. This suggests upside
momentum.
Hence we recommend one to buy this stock at Rs 401 or
on a decline up to Rs 390 with a stop loss of Rs 375 for a
target of Rs 430-445 levels.
4 ARIHANT CAPITAL ยก JULY 2016
