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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 2024-05-17 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 1424633

Date	Daily Closing Price	Open	High	Low	Volume
17 Fri May 2024	876.35	899.90	905.85	875.00	0.665 times
16 Thu May 2024	897.75	914.00	924.40	888.60	0.639 times
15 Wed May 2024	905.80	912.40	919.70	903.05	0.373 times
14 Tue May 2024	907.60	870.00	914.80	870.00	1.016 times
13 Mon May 2024	866.45	856.30	875.00	828.50	0.779 times
10 Fri May 2024	856.25	860.00	885.90	832.50	1.357 times
09 Thu May 2024	848.95	895.80	904.50	840.10	0.789 times
08 Wed May 2024	894.20	914.00	934.60	864.00	2.805 times
07 Tue May 2024	913.15	980.00	989.00	905.90	0.963 times
06 Mon May 2024	971.75	1025.00	1026.00	968.00	0.785 times

My analysis of stock is bearish for shortterm, but trade for tomorrow is selective. Take a sell trade only if stock stays below 879.1, but if it comes above 879.1, then a intra day buy could be more profitable.
If you take a sell trade below 879.1, then use 879.1 as stoploss and 791.2 as target. However if you take a buy trade in stock , then use 879.1 as stoploss and 952.39 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	828.43
Downside Intraday Target	780.52
Upside Intraday Target	924.33
Upside Intraday Target	972.32
Upside Intraday Target	876.42

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
17 Fri May 2024	876.35	856.30	924.40	828.50	0.518 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
17 Fri May 2024	876.35	1028.20	1035.70	828.50	0.401 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 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 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 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 neutral. A longer time frame might give a better analysis.

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 in short term is moving inside a range for now. Please check in a day or two to for a better buy sell signal. Bears are getting stronger in this stock.

Ichimoku cloud is of red color and prices are below the red cloud Prices appear to be coming down

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

RSI is generating a BUY signal in short term and the buying is gaining 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 892.1 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.