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You are here : IndiaNotes >> Research & Analysis >> Companies >> Castrol India Ltd. >> Research

Technical Calls: Buy Castrol and Engineers India

SMC | 21 Apr, 2017  | Follow Author | Add to my Favourites 
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Castrol India:


The stock closed at Rs432.25 on 13th April 2017. It made a 52-week low at 353.20 on 27th December 2016 and a 52-week high of 495.30 on 05th October 2016. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 415.14.


After a drastic fall, it took support near 370 levels and recovered whole of its lost value which is a positive sign. Moreover, last week it maintained its upward momentum despite of weakness in other counters which shows its strength. Therefore, one can buy in the range of 420-425 levels for the upside target of 445-455 levels with SLbelow 407.


Engineers India:

 

The stock closed at 157.85 on 13thApril 2017. It made a 52-week low at 82 on 12th April 2016 and a 52-week high of 171.75 on 29th December 2016. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 137.07.


After a significant rise, it went into consolidation for a span of three months. Last week it rose sharply with the rise in volumes despite of weakness in broader index which shows its potential to remain northwards. Therefore, one can buy in the range of 155-157 levels for the upside target of 167-169 levels with SL below 150.

 


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About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.



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