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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 2024-05-02 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 3186199

Date	Daily Closing Price	Open	High	Low	Volume
02 Thu May 2024	1014.50	1028.20	1035.70	1006.05	0.314 times
30 Tue Apr 2024	1022.85	1047.00	1055.75	1015.05	0.294 times
29 Mon Apr 2024	1040.60	1065.85	1066.90	1032.05	0.351 times
26 Fri Apr 2024	1051.65	1080.00	1122.50	1047.00	1.288 times
25 Thu Apr 2024	1076.20	1080.00	1097.90	1056.00	1.291 times
24 Wed Apr 2024	1075.00	931.10	1098.65	915.10	5.105 times
23 Tue Apr 2024	928.20	946.80	950.70	925.00	0.165 times
22 Mon Apr 2024	941.25	950.85	964.85	936.10	0.204 times
19 Fri Apr 2024	942.35	920.00	961.95	900.20	0.423 times
18 Thu Apr 2024	930.55	922.00	965.00	920.00	0.532 times

My analysis of stock is bullish for shortterm, but stock is in semi over bought zones and there are some chances of seeing a fall tomorrow. Use 1021 as stoploss in an intra day sell trade for a target of 962.92. However, stock will show a bullish move above 1021.

Share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Target	693.05
Downside Target	743.05
Downside Target	810.00
Downside Target	862.20
Downside Target	885.30
Downside Target	908.00
Downside Target	944.00
Downside Target	1006.05
Upside Target	1035.70
Upside Target	1036.30
Upside Target	1066.90
Upside Target	1122.50

Intraday share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Intraday Target	991.4
Downside Intraday Target	968.3
Upside Intraday Target	1052.25
Upside Intraday Target	1090
Upside Intraday Target	1029.15

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
02 Thu May 2024	1014.50	1065.85	1066.90	1006.05	0.119 times
26 Fri Apr 2024	1051.65	950.85	1122.50	915.10	4.343 times
19 Fri Apr 2024	942.35	899.00	965.00	862.20	2.461 times
12 Fri Apr 2024	895.80	942.10	953.60	885.30	0.544 times
05 Fri Apr 2024	941.40	910.00	967.65	908.25	1.308 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
02 Thu May 2024	1014.50	1028.20	1035.70	1006.05	0.025 times
30 Tue Apr 2024	1022.85	910.00	1122.50	862.20	2.284 times
28 Thu Mar 2024	906.80	895.00	944.00	743.05	0.556 times
29 Thu Feb 2024	884.05	856.00	1036.30	810.00	0.868 times

Scroll below to view daily charts

Price has moved down 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 negative, but sellers have recently become active on the stock. This cannot be called a strong downtrend, specially if selected time duration is small

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 losing momentum.

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

Chennai Petroleum Stock in short term is moving inside a range for now. Please check in a day or two to for a better buy sell signal. Bulls are getting tired and bears are picking up momentum.

Ichimoku cloud is of green color and prices are in or below 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 and the buying is gaining momentum.

MRSI is in positive zone. This is a BUY zone

Although the stock is in the BUY zone, but buying 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 1048.98 and Chennai Petroleum (CHENNPETRO) stock is trading below this level. This means that stock is falling with high volumes. 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.