The upmove of Castrol India has gained momentum. The stock surged 3 per cent on Thursday and closed on a strong note. The outlook is bullish. Strong supports are at ₹154-153 and then at ₹146-144. Any intermediate dips are likely to see fresh buyers coming into the market around the above-mentioned support levels. Castrol India share price can rise to ₹183-185 over the next three-four weeks or even earlier than that if the current momentum continues.
Traders can buy Castrol India at current levels. Accumulate on dips at ₹155 and ₹148. Keep the stop-loss at ₹141. Trail the stop-loss up to ₹163 as soon as the stock moves up to ₹168. Move the stop-loss further up to ₹172 when Castrol India share price touches ₹177. Exit the long positions at ₹182.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)