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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 2024-06-03 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 923813

Date	Daily Closing Price	Open	High	Low	Volume
03 Mon Jun 2024	973.25	948.00	979.95	932.50	1.252 times
31 Fri May 2024	917.65	924.00	926.20	902.00	0.806 times
30 Thu May 2024	918.95	949.00	952.00	910.05	0.73 times
29 Wed May 2024	949.10	960.00	968.00	945.25	0.675 times
28 Tue May 2024	959.65	972.45	976.00	954.05	0.606 times
27 Mon May 2024	972.45	979.00	984.00	953.00	1.017 times
24 Fri May 2024	974.20	941.75	998.00	932.00	2.794 times
23 Thu May 2024	939.15	898.00	945.50	898.00	1.892 times
22 Wed May 2024	892.45	896.35	903.00	882.20	0.609 times
21 Tue May 2024	890.55	895.00	908.75	879.50	0.726 times

My analysis of stock is bullish for shortterm, but trade for tomorrow is selective. Take a BUY trade only if stock stays above 949.9, but if it comes below 949.9, then a intra day sell could be more profitable.
If you take a sell trade below 949.9, then use 949.9 as stoploss and 912.59 as target. However if you take a buy trade in stock , then use 949.9 as stoploss and 994.6 as target.

Share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Target	743.05
Downside Target	810.00
Downside Target	828.50
Downside Target	862.20
Downside Target	879.50
Downside Target	902.00
Downside Target	924.40
Upside Target	979.95
Upside Target	984.00
Upside Target	998.00
Upside Target	1026.00
Upside Target	1035.70
Upside Target	1036.30
Upside Target	1122.50

Intraday share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Intraday Target	943.85
Downside Intraday Target	914.45
Upside Intraday Target	991.3
Upside Intraday Target	1009.35
Downside Intraday Target	961.9

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
03 Mon Jun 2024	973.25	948.00	979.95	932.50	0.327 times
31 Fri May 2024	917.65	979.00	984.00	902.00	0.637 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

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
03 Mon Jun 2024	973.25	948.00	979.95	932.50	0.045 times
31 Fri May 2024	917.65	1028.20	1035.70	828.50	0.629 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

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 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 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 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 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 weakening, and bulls are picking up momentum!

Ichimoku cloud is of red color and prices are in or above the red 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 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 947.96 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.