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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 2024-06-18 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 821894

Date	Daily Closing Price	Open	High	Low	Volume
18 Tue Jun 2024	989.85	996.10	1015.00	987.00	0.626 times
14 Fri Jun 2024	986.95	985.00	1009.00	981.35	1.444 times
13 Thu Jun 2024	979.85	984.15	994.90	975.00	0.736 times
12 Wed Jun 2024	978.20	970.20	998.00	968.60	0.771 times
11 Tue Jun 2024	969.05	960.00	990.95	948.65	1.051 times
10 Mon Jun 2024	955.40	958.50	980.00	952.00	0.457 times
07 Fri Jun 2024	953.70	940.00	957.80	933.50	0.531 times
06 Thu Jun 2024	939.30	903.00	951.75	900.25	0.828 times
05 Wed Jun 2024	891.90	880.00	904.80	858.00	0.873 times
04 Tue Jun 2024	872.30	970.00	970.00	794.30	1.902 times

My analysis of stock is bullish for shortterm, but trade for tomorrow is selective. Take a BUY trade only if stock stays above 980.4, but if it comes below 980.4, then a intra day sell could be more profitable.
If you take a sell trade below 980.4, then use 980.4 as stoploss and 945.2 as target. However if you take a buy trade in stock , then use 980.4 as stoploss and 1022.7 as target.

Share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Target	743.05
Downside Target	794.30
Downside Target	828.50
Downside Target	862.20
Downside Target	879.50
Downside Target	902.00
Downside Target	944.00
Downside Target	979.95
Upside Target	1009.00
Upside Target	1015.00
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	979.57
Downside Intraday Target	969.28
Upside Intraday Target	1007.57
Upside Intraday Target	1025.28
Upside Intraday Target	997.28

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
18 Tue Jun 2024	989.85	996.10	1015.00	987.00	0.14 times
14 Fri Jun 2024	986.95	958.50	1009.00	948.65	0.805 times
07 Fri Jun 2024	953.70	948.00	979.95	794.30	1.286 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

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
18 Tue Jun 2024	989.85	948.00	1015.00	794.30	0.343 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 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 Weak 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 tired and bears 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 SELL signal in short term and selling is picking up 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 943.39 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 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 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.