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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 2024-02-05 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 1207259

Date	Daily Closing Price	Open	High	Low	Volume
05 Mon Feb 2024	932.35	893.00	969.90	892.85	1.718 times
02 Fri Feb 2024	892.85	889.00	912.70	874.15	1.096 times
01 Thu Feb 2024	885.65	856.00	898.00	856.00	1.014 times
31 Wed Jan 2024	854.00	838.00	857.40	825.00	0.534 times
30 Tue Jan 2024	837.65	829.40	843.80	822.00	0.674 times
29 Mon Jan 2024	823.85	805.00	833.30	803.20	0.82 times
25 Thu Jan 2024	799.95	762.00	805.50	761.95	1.147 times
24 Wed Jan 2024	755.10	763.05	772.90	741.00	0.848 times
23 Tue Jan 2024	767.90	820.00	820.00	761.00	2.393 times
22 Mon Jan 2024	848.70	886.00	891.00	832.55	0.523 times

Although my analysis for stock is bullish for shortterm, but stock is over bought and there are high chances of some profit booking tomorrow. You might want to sell the stock tomorrow in intra day with a stoploss of 958.2, for a target of 887.2 or 827.97

Share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Target	475.20
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	741.00
Downside Target	803.20
Downside Target	822.20
Downside Target	856.00
Downside Target	891.00
Downside Target	908.00
Downside Target	912.70
Upside Target	969.90

Intraday share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Intraday Target	893.5
Downside Intraday Target	854.65
Upside Intraday Target	970.55
Upside Intraday Target	1008.75
Downside Intraday Target	931.7

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
05 Mon Feb 2024	932.35	893.00	969.90	892.85	0.415 times
02 Fri Feb 2024	892.85	805.00	912.70	803.20	0.842 times
25 Thu Jan 2024	799.95	886.00	891.00	741.00	0.637 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

Price has moved up 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
05 Mon Feb 2024	932.35	856.00	969.90	856.00	0.126 times
31 Wed Jan 2024	854.00	705.00	908.00	693.05	1.413 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

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 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 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 gaining momentum.

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

MACD line is moving upwards which means that SELL signal is weakening, and buying is picking up momentum.

Chennai Petroleum Stock is trading near its recent HIGHS, which reflects strong buying momentum in short term! Bulls are getting stronger in this stock.

Ichimoku cloud is of green color and prices are above the green cloud Prices appear to be moving up

CCI has generated a buy signal for Chennai Petroleum in short term and BUY signal is strong.

RSI is generating a BUY signal in short term and the buying is gaining momentum.

MRSI is in positive zone. This is a BUY zone

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

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 837.18 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.