IIFL is bullish on Castrol India and has recommended buy rating on the stock with a target of Rs 338 in its April 29, 2013 research report.
“Castrol on the daily chart has broken from symmetrical triangle and currently is taking support above the falling trend line of triangle. The amplitude of triangle projects target of Rs350 with added strength from RSI index. The stock took support at its 200-DMA in March 2013 and thereafter has been trending upwards within the context of the triangle. The daily RSI has been sustaining above the 40 mark reinforcing bullish trend in the counter and any declines is likely to be met with buying interest. (Duration 5 days),” says IIFL research report.
FIIs holding more than 30% in Indian cos
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
Read More
