#CastrolIndia – Strong Breakout, Eyeing Higher Levels!

#CastrolIndia – Strong Breakout, Eyeing Higher Levels! 🚀🔥
Technical Analysis:
✅ Breakout Above 200 SMA: The stock has successfully broken above the 200 SMA, confirming a trend reversal.
✅ Strong Volume: The recent rally is backed by high volume, signaling strong buying interest.
✅ Relative Strength (RS) Positive: Castrol India is outperforming the broader market, a sign of strength.
✅ EMA Alignment Bullish: Short-term EMAs are sloping up, confirming momentum.

Key Levels to Watch:
🔴 Resistance Zone: Trading near supply at 245-260, a strong breakout above this could fuel the next leg up.
🟢 Support Zone: The recent breakout level around 210-220 can act as a retest zone if a pullback occurs.
Trade Plan:
✅ Bullish Case: Holding above 240-245 could trigger a move towards 260-270+.
⚠️ Watch for Retest: If the stock pulls back, the 220-230 gap zone should act as a strong demand area.
🚨 Risk Management: A break below 210 would weaken the bullish structure.

So, while the gap-up is bullish, we need to see if it sustains or fills before confirming further upside.
What’s your view? Are you expecting a continuation or a pullback? 🚀