Mumbai – The broader market is trading mixed in Tuesday’s trading session. Meanwhile, there has been heavy buying by institutional investors in quality midcap and smallcap stocks. Rising fundamentals and attractive valuations have become the focus of recent attention. Because the market is looking at higher levels again. One such stock is Castrol India. It jumped nearly 4% and hit a 52-week high of Rs 135.30 on the national stock market. Primarily existing in the manufacturing and marketing of lubricants for automotive and allied industry applications, the company has recorded good demand for the last 2 years and is a leading competitor in its industry.
Technically this company stock recorded a strong price volume breakout from its consolidation pattern last week and continued its upward value journey. It has made higher highs and higher lows on a daily technical basis. This paints a positive picture. All of its moving averages are uptrends. Showing a positive bias in all cases. The 14-day RSI (72.99) is bullish and indicates strength in the stock. The ADX (37.90) is pointing north and shows a rising trend. OBV is peaking and showing strong trading activity. Overall technical parameters are bullish and this stock can be expected to perform well in the coming period. This article is published by Dalal Street Investment Journal, India’s No. 1 investment magazine. Click here and subscribe to receive regular shares and recommendations from Teji.
This company stock has returned almost 20% in last 3 months. Long-term investors should consider keeping this stock on their watchlist. Disclaimer: This above is third party content and TIL hereby disclaims any and all warranties, express or implied, relating to the same. TIL does not guarantee, vouch for or endorse any of the above content or its accuracy nor is responsible for it in any manner whatsoever. The content does not constitute any investment advice or solicitation of any kind. Users are advised to check with certified experts before taking any investment decision and take all steps necessary to ascertain that any information and content provided is correct, updated and verified.
