Trading is all about taking CALCULATED RISK and buying at decent
rates. Castrol India is one such high risk and fast return trade for the coming
week.
The first thing we find
positive in castrol is that it is now at the support levels. This support level
has been tested twice as you can see in the below figure. So this the first
positive signal to enter this trade.
For past week the stock has been in a downtrend and today
the stock has broken the downtrend line. Also it is showing DOJI signal today, see the below snapshot taken from Religare Terminal. Now many conservative
technical analyst would suggest to wait for a confirmation but looking at the
positive signs we are recommending to enter this trade today(26 February 2014). That’s why we
have said in the title that it’s a risky trade.
As usual the RSI and ADX are looking positive and
supportive.
This specific trade is a VERY VERY Risky trade so enter in
extremely small quantities with a strict stoploss of 284.
The above call was derived by using the 5 point formula
trade. If you wish to be a trader we highly recommend to take training of this
5 point formula. If you wish to take training call us on 022-66752917 or email at trading.kamai@yahoo.com.
Exlent post !I am very interesting to read your blog content.Thanks for sharing.you may also check our blog Castrol India Ltd
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