Trade rationale

Trendlines

Logic 1) The stock has given an Ascending triangle breakout in the daily chart with good volumes. 2) It has been gaining strength in the weekly timeframe, taking constant supports at 20 EMA after a long downtrend. If the uptrend continues, all the moving averages will cross over, accumulating more buyers 3) Relative Strength comparison between Castrol and Nifty 500 has also seen a channel breakout confirming the bullish momentum of the stock. With a stop-loss of just 7rs, The stock can end up giving away much more than 1:2 risk reward favoring our bets.