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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 2024-07-23 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 4993194

Date	Daily Closing Price	Open	High	Low	Volume
23 Tue Jul 2024	988.20	1031.95	1035.00	950.30	0.311 times
22 Mon Jul 2024	1029.70	1034.95	1046.80	1000.00	0.391 times
19 Fri Jul 2024	1035.75	1177.05	1177.75	1025.00	1.169 times
18 Thu Jul 2024	1220.00	1215.00	1244.85	1190.00	1.06 times
16 Tue Jul 2024	1212.10	1100.00	1275.00	1097.30	4.126 times
15 Mon Jul 2024	1084.70	1055.00	1102.05	1050.00	0.514 times
12 Fri Jul 2024	1046.85	1059.00	1063.95	1038.00	0.164 times
11 Thu Jul 2024	1050.75	1018.00	1068.00	1013.00	0.591 times
10 Wed Jul 2024	1007.30	1028.00	1034.00	986.30	0.272 times
09 Tue Jul 2024	1022.15	985.00	1063.70	980.95	1.295 times

My analysis of stock is bearish for shortterm, and stock might move down till 942.9 or till 852.3. Use a stoploss of 1018.4 and if the stock hits stoploss, then it can shoot up till 1093.91

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	944.00
Upside Target	1003.00
Upside Target	1025.00
Upside Target	1035.70
Upside Target	1046.80
Upside Target	1068.00
Upside Target	1122.50
Upside Target	1275.00

Intraday share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Intraday Target	943.4
Downside Intraday Target	898.6
Upside Intraday Target	1039.9
Upside Intraday Target	1091.6
Upside Intraday Target	995.1

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
23 Tue Jul 2024	988.20	1034.95	1046.80	950.30	0.102 times
19 Fri Jul 2024	1035.75	1055.00	1275.00	1025.00	2.507 times
12 Fri Jul 2024	1046.85	962.00	1068.00	958.05	5.799 times
05 Fri Jul 2024	947.75	985.00	1003.00	945.65	0.677 times
28 Fri Jun 2024	982.10	972.00	1008.90	945.00	2.139 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
23 Tue Jul 2024	988.20	985.00	1275.00	945.65	4.037 times
28 Fri Jun 2024	982.10	948.00	1015.00	794.30	0.524 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

Scroll below to view daily charts

Price has moved up this month, and volume has increased substantially. This means that the move can 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 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 SELL. Signal strength is Weak and stock is losing momentum.

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

Chennai Petroleum Stock is trading near its recent LOWS in short term which reflects strong selling momentum. Bears are getting stronger in this stock.

Ichimoku cloud is of green color and prices are in or below the green 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 but buying is losing 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 1128.37 and Chennai Petroleum (CHENNPETRO) stock is trading below this level. This means that stock is falling with high volumes. 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.