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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 2024-08-07 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 945000

Date	Daily Closing Price	Open	High	Low	Volume
07 Wed Aug 2024	934.85	937.00	944.00	915.40	0.537 times
06 Tue Aug 2024	906.20	950.70	975.80	902.55	0.982 times
05 Mon Aug 2024	935.65	960.05	983.85	930.00	1.023 times
02 Fri Aug 2024	1002.65	1018.00	1019.00	1000.00	0.483 times
01 Thu Aug 2024	1028.80	1016.90	1034.00	996.60	1.256 times
31 Wed Jul 2024	996.95	1038.50	1038.50	990.20	0.664 times
30 Tue Jul 2024	1023.30	1017.80	1041.80	1006.40	0.698 times
29 Mon Jul 2024	1014.95	1020.00	1031.95	1006.10	0.62 times
26 Fri Jul 2024	999.10	1004.95	1012.50	988.85	0.868 times
25 Thu Jul 2024	1016.05	1004.00	1058.70	994.40	1.942 times

My analysis of stock is bearish for shortterm, but trade for tomorrow is selective. Take a sell trade only if stock stays below 952.7, but if it comes above 952.7, then a intra day buy could be more profitable.
If you take a sell trade below 952.7, then use 952.7 as stoploss and 862.9 as target. However if you take a buy trade in stock , then use 952.7 as stoploss and 1027.47 as target.

Share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Target	794.30
Downside Target	828.50
Downside Target	862.20
Downside Target	902.55
Upside Target	945.65
Upside Target	983.85
Upside Target	1015.00
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	896.98
Downside Intraday Target	859.12
Upside Intraday Target	978.28
Upside Intraday Target	1021.72
Upside Intraday Target	940.42

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
07 Wed Aug 2024	934.85	960.05	983.85	902.55	0.683 times
02 Fri Aug 2024	1002.65	1020.00	1041.80	990.20	0.466 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

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
07 Wed Aug 2024	934.85	1016.90	1034.00	902.55	0.068 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 down 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 to mid 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 mid to longer 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.

ADX buy sell signal for Chennai Petroleum stock for short term is SELL. Signal strength is Strong and stock is losing momentum.

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

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 red color and prices are below the red 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 negative zone. This is the SELL zone

Stock of Chennai Petroleum is picking up buying momentum according to indicator.

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 988.8 and Chennai Petroleum (CHENNPETRO) stock is trading below this level. This means that stock is falling with high volumes. 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 negative.

Force Index is moving in a negative zone, which indicates selling momentum for short term... Selling momentum is getting weaker.