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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 2024-05-13 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 1740620

Date	Daily Closing Price	Open	High	Low	Volume
13 Mon May 2024	866.45	856.30	875.00	828.50	0.637 times
10 Fri May 2024	856.25	860.00	885.90	832.50	1.111 times
09 Thu May 2024	848.95	895.80	904.50	840.10	0.646 times
08 Wed May 2024	894.20	914.00	934.60	864.00	2.296 times
07 Tue May 2024	913.15	980.00	989.00	905.90	0.788 times
06 Mon May 2024	971.75	1025.00	1026.00	968.00	0.643 times
03 Fri May 2024	1017.00	1020.05	1033.00	1012.50	0.404 times
02 Thu May 2024	1014.50	1028.20	1035.70	1006.05	0.575 times
30 Tue Apr 2024	1022.85	1047.00	1055.75	1015.05	0.537 times
29 Mon Apr 2024	1040.60	1065.85	1066.90	1032.05	0.642 times

My analysis of stock is bearish for shortterm, but trade for tomorrow is selective. Take a sell trade only if stock stays below 885.5, but if it comes above 885.5, then a intra day buy could be more profitable.
If you take a sell trade below 885.5, then use 885.5 as stoploss and 800.5 as target. However if you take a buy trade in stock , then use 885.5 as stoploss and 956.23 as target.

Share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Target	693.05
Downside Target	743.05
Downside Target	810.00
Downside Target	828.50
Downside Target	862.20
Upside Target	908.00
Upside Target	944.00
Upside Target	965.00
Upside 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	838.3
Downside Intraday Target	810.15
Upside Intraday Target	884.8
Upside Intraday Target	903.15
Downside Intraday Target	856.65

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
13 Mon May 2024	866.45	856.30	875.00	828.50	0.116 times
10 Fri May 2024	856.25	1025.00	1026.00	832.50	2.54 times
03 Fri May 2024	1017.00	1065.85	1066.90	1006.05	0.146 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

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
13 Mon May 2024	866.45	1028.20	1035.70	828.50	0.306 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 definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

Price action analysis of Chennai Petroleum ( (CHENNPETRO) ) based on a short to mid term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

Price action analysis of Chennai Petroleum ( (CHENNPETRO) ) based on a mid to longer term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

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

MACD generated a SELL signal for Chennai Petroleum in short term and the sell signal is strong.

Chennai Petroleum Stock is trading near its recent LOWS in short term which reflects strong selling momentum. Bears are weakening, and bulls are picking up momentum!

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

CCI has generated a SELL signal for Chennai Petroleum in short term and SELL signal is strong!

RSI is generating a SELL signal in short term and selling is picking up 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 925.32 and Chennai Petroleum (CHENNPETRO) stock is trading below this level. This means that stock is falling with high volumes. VWAP is falling down

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 has given negative returns over a short term period. Returns for a longer term period have been negative.

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