Castrol India Limited (CASTROLIND) Stock - Complete Technical Analysis - Sep 05, 2024

Castrol India Stock Analysis Technical Indicators, Support

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Castrol India Limited (CASTROLIND) is currently trading around 267.75, reflecting a slight dip of 5.85% from its 52-week high of 284.4. On the flip side, it's up 102.23% from its 52-week low of 132.4. The stock is positioned above its Exponential Moving Averages (EMAs) across all major time frames, indicating an overall positive trend. However, the Relative Strength Index (RSI) is at 55.29, suggesting that the stock is in the neutral zone, not yet overbought or oversold. The Moving Average Convergence Divergence (MACD) level is above the signal line, reflecting a bullish momentum, while the Awesome Oscillator also supports this bullish view.

The stock's price is currently above several key support levels, including the Exponential Moving Average (10) at 266.81 and the Classic Pivot Point at 263.05. Resistance levels to watch are the Classic Pivot R1 at 286.1 and the Woodie Pivot R1 at 287.5.

Recent patterns show an Evening Star formation, a bearish reversal pattern, suggesting a potential shift in trend direction. The Average True Range (ATR) is increasing, indicating rising volatility which traders should be mindful of. With the presence of an Inside Candle pattern over the past two days, indicating consolidation within a specific range, investors should look for a breakout direction for potential trade signals.

Overall, Castrol India Limited presents a mixed technical outlook with bullish indicators but also notable bearish patterns. Traders should monitor the stock closely around the current price and pivot levels to make informed trading decisions.