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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 2024-08-01 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 2054323

Date	Daily Closing Price	Open	High	Low	Volume
01 Thu Aug 2024	1028.80	1016.90	1034.00	996.60	0.578 times
31 Wed Jul 2024	996.95	1038.50	1038.50	990.20	0.305 times
30 Tue Jul 2024	1023.30	1017.80	1041.80	1006.40	0.321 times
29 Mon Jul 2024	1014.95	1020.00	1031.95	1006.10	0.285 times
26 Fri Jul 2024	999.10	1004.95	1012.50	988.85	0.399 times
25 Thu Jul 2024	1016.05	1004.00	1058.70	994.40	0.893 times
24 Wed Jul 2024	1015.50	995.00	1025.00	991.05	0.675 times
23 Tue Jul 2024	988.20	1031.95	1035.00	950.30	0.757 times
22 Mon Jul 2024	1029.70	1034.95	1046.80	1000.00	0.949 times
19 Fri Jul 2024	1035.75	1177.05	1177.75	1025.00	2.84 times

My analysis of stock is bearish for shortterm, and stock might move down till 965.8 or till 884.2. Use a stoploss of 1033.74 and if the stock hits stoploss, then it can shoot up till 1101.7

Share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Target	794.30
Downside Target	828.50
Downside Target	862.20
Downside Target	945.65
Downside Target	990.20
Upside Target	1035.70
Upside Target	1041.80
Upside Target	1058.70
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	998.73
Downside Intraday Target	968.67
Upside Intraday Target	1050.33
Upside Intraday Target	1071.87
Downside Intraday Target	1020.27

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
01 Thu Aug 2024	1028.80	1020.00	1041.80	990.20	0.405 times
26 Fri Jul 2024	999.10	1034.95	1058.70	950.30	0.22 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

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
01 Thu Aug 2024	1028.80	1016.90	1034.00	996.60	0.02 times
31 Wed Jul 2024	996.95	985.00	1275.00	945.65	4.481 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

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 negative, but trend is highly volatile. A longer duration price action analysis might give a better picture of the trend in this stock.

Price action analysis of Chennai Petroleum ( (CHENNPETRO) ) based on a short to mid 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 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 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 weakening, and bulls are picking up momentum!

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 SELL signal in short term but selling is losing momentum.

MRSI is in positive zone. This is a BUY zone

Although the stock is in the BUY zone, but buying 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 1021.58 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 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.