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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 2024-07-24 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 4939661

Date	Daily Closing Price	Open	High	Low	Volume
24 Wed Jul 2024	1015.50	995.00	1025.00	991.05	0.281 times
23 Tue Jul 2024	988.20	1031.95	1035.00	950.30	0.315 times
22 Mon Jul 2024	1029.70	1034.95	1046.80	1000.00	0.395 times
19 Fri Jul 2024	1035.75	1177.05	1177.75	1025.00	1.181 times
18 Thu Jul 2024	1220.00	1215.00	1244.85	1190.00	1.071 times
16 Tue Jul 2024	1212.10	1100.00	1275.00	1097.30	4.171 times
15 Mon Jul 2024	1084.70	1055.00	1102.05	1050.00	0.52 times
12 Fri Jul 2024	1046.85	1059.00	1063.95	1038.00	0.166 times
11 Thu Jul 2024	1050.75	1018.00	1068.00	1013.00	0.597 times
10 Wed Jul 2024	1007.30	1028.00	1034.00	986.30	0.275 times

My analysis of stock is bearish for shortterm, and stock might move down till 946.9 or till 857.8. Use a stoploss of 1021.22 and if the stock hits stoploss, then it can shoot up till 1095.5

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
Downside 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	961.6
Downside Intraday Target	907.7
Upside Intraday Target	1058.1
Upside Intraday Target	1100.7
Downside Intraday Target	1004.2

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
24 Wed Jul 2024	1015.50	1034.95	1046.80	950.30	0.143 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
24 Wed Jul 2024	1015.50	985.00	1275.00	945.65	4.141 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 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 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 gaining 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 moving up

CCI has generated a buy signal for Chennai Petroleum in short term but BUY signal is weak.

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 1140.34 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 has given negative 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.