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(CHENNPETRO) Chennai Petroleum complete technical analysis [charts+indicators] | Buy/Sell Chennai Petroleum | (CHENNPETRO) share price targets

Complete technical analysis of Chennai Petroleum (CHENNPETRO) by charts plus indicators, forecast predictions and share price targets for Chennai Petroleum (CHENNPETRO)

Chennai Petroleum trades in NSE in Refineries sector.

Showing technical analysis as on 2024-01-22 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 2380887

Date	Daily Closing Price	Open	High	Low	Volume
22 Mon Jan 2024	848.70	886.00	891.00	832.55	0.265 times
19 Fri Jan 2024	891.10	873.00	896.25	870.05	0.483 times
18 Thu Jan 2024	872.75	858.00	878.00	834.45	0.587 times
17 Wed Jan 2024	855.70	839.10	873.00	831.90	0.812 times
16 Tue Jan 2024	840.85	842.65	859.05	822.20	0.635 times
15 Mon Jan 2024	837.30	836.00	908.00	833.65	1.392 times
12 Fri Jan 2024	833.65	847.90	849.00	823.55	0.881 times
11 Thu Jan 2024	858.05	745.95	868.70	743.45	4.328 times
10 Wed Jan 2024	738.60	723.95	745.00	720.00	0.446 times
09 Tue Jan 2024	717.80	723.00	730.90	715.00	0.202 times

My analysis of stock is bullish for shortterm, but trade for tomorrow is selective. Take a BUY trade only if stock stays above 840.7, but if it comes below 840.7, then a intra day sell could be more profitable.
If you take a sell trade below 840.7, then use 840.7 as stoploss and 767.62 as target. However if you take a buy trade in stock , then use 840.7 as stoploss and 928.5 as target.

Share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Target	406.00
Downside Target	475.20
Downside Target	549.40
Downside Target	569.10
Downside Target	612.80
Downside Target	653.45
Downside Target	674.00
Downside Target	693.05
Downside Target	713.60
Downside Target	736.00
Downside Target	822.20
Upside Target	868.70
Upside Target	891.00
Upside Target	908.00

Intraday share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Intraday Target	823.83
Downside Intraday Target	798.97
Upside Intraday Target	882.28
Upside Intraday Target	915.87
Upside Intraday Target	857.42

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
22 Mon Jan 2024	848.70	886.00	891.00	832.55	0.068 times
19 Fri Jan 2024	891.10	836.00	908.00	822.20	0.642 times
12 Fri Jan 2024	833.65	724.00	868.70	713.60	3.257 times
05 Fri Jan 2024	720.80	705.00	736.00	693.05	1.201 times
29 Fri Dec 2023	696.00	693.00	714.40	674.10	0.447 times

Price has moved down this week, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming weeks.

Monthly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Monthly Closing Price	Open	High	Low	Volume
22 Mon Jan 2024	848.70	705.00	908.00	693.05	1.115 times
29 Fri Dec 2023	696.00	668.80	741.10	653.45	0.609 times
30 Thu Nov 2023	665.45	577.05	674.00	569.10	0.698 times
31 Tue Oct 2023	575.20	511.00	612.80	475.20	1.181 times

Scroll below to view daily charts

Price has moved up this month, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming months.

Indicators analysis of Chennai Petroleum (CHENNPETRO)

Price action analysis of Chennai Petroleum ( (CHENNPETRO) ) based on a short term time period is positive, but buyers have become active on the stock recently. This cannot be a definite uptrend, specially if selected time duration is small.

Price action analysis of Chennai Petroleum ( (CHENNPETRO) ) based on a short term time period is negative, but trend is highly volatile. A longer duration price action analysis might give a better picture of the trend in this stock.

Price action analysis of Chennai Petroleum ( (CHENNPETRO) ) based on a short to mid term time period is definitely positive! This means that there is a strong uptrend in the stock for the given time period. Buyers are extremely bullish on the stock.

Price action analysis of Chennai Petroleum ( (CHENNPETRO) ) based on a mid to longer term time period is definitely positive! This means that there is a strong uptrend in the stock for the given time period. Buyers are extremely bullish on the stock.

ADX buy sell signal for Chennai Petroleum stock for short term is BUY. Signal strength is Strong and stock is losing momentum.

MACD generated a BUY signal for Chennai Petroleum in short term and the buy signal is strong.

Chennai Petroleum Stock is trading near its recent HIGHS, which reflects strong buying momentum in short term! Bulls are getting tired and bears are picking up momentum.

Ichimoku cloud is of green color and prices are above the green cloud Prices appear to be coming down

CCI has generated a SELL signal for Chennai Petroleum in short term but SELL signal is weak.

RSI is generating a BUY signal in short term but buying is losing momentum.

MRSI is in negative zone. This is the SELL zone

Although the stock is in the SELL zone, but selling might be slowing down

Stock of Chennai Petroleum is picking up selling momentum according to indicator.

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 845.82 and Chennai Petroleum (CHENNPETRO) stock is trading above this level. This is a good sign for the stock and it could move higher. VWAP is rising upwards.

People seem to be coming out and selling the Chennai Petroleum (CHENNPETRO) stock. Volume based technical analysis of Chennai Petroleum (CHENNPETRO) stock is negative.

Chennai Petroleum Stock is giving positive returns over a short term period. Returns for a longer term period have been positive

Force Index is moving in a negative zone, which indicates selling momentum for short term... Selling momentum is getting weaker.