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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 2024-05-27 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 1064308

Date	Daily Closing Price	Open	High	Low	Volume
27 Mon May 2024	972.45	979.00	984.00	953.00	0.883 times
24 Fri May 2024	974.20	941.75	998.00	932.00	2.425 times
23 Thu May 2024	939.15	898.00	945.50	898.00	1.642 times
22 Wed May 2024	892.45	896.35	903.00	882.20	0.529 times
21 Tue May 2024	890.55	895.00	908.75	879.50	0.63 times
18 Sat May 2024	897.95	884.00	900.00	879.65	0.127 times
17 Fri May 2024	876.35	899.90	905.85	875.00	0.89 times
16 Thu May 2024	897.75	914.00	924.40	888.60	0.855 times
15 Wed May 2024	905.80	912.40	919.70	903.05	0.5 times
14 Tue May 2024	907.60	870.00	914.80	870.00	1.36 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 988.2 as stoploss in an intra day sell trade for a target of 930. However, stock will show a bullish move above 988.2.

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
Downside Target	879.50
Downside Target	908.00
Downside Target	944.00
Upside Target	984.00
Upside Target	1026.00
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	955.63
Downside Intraday Target	938.82
Upside Intraday Target	986.63
Upside Intraday Target	1000.82
Downside Intraday Target	969.82

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
27 Mon May 2024	972.45	979.00	984.00	953.00	0.169 times
24 Fri May 2024	974.20	895.00	998.00	879.50	1.095 times
18 Sat May 2024	897.95	856.30	924.40	828.50	0.532 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

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
27 Mon May 2024	972.45	1028.20	1035.70	828.50	0.565 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 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 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 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 red color and prices are in or above the red cloud Prices appear to be coming down

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 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 929.29 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.