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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 2024-08-23 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 1139999

Date	Daily Closing Price	Open	High	Low	Volume
23 Fri Aug 2024	1016.75	996.40	1039.00	991.10	1.131 times
22 Thu Aug 2024	993.80	998.45	1015.00	991.00	0.473 times
21 Wed Aug 2024	991.00	984.70	997.00	981.95	0.371 times
20 Tue Aug 2024	977.60	994.70	999.00	975.00	0.666 times
19 Mon Aug 2024	986.95	987.00	1006.35	984.10	0.659 times
16 Fri Aug 2024	981.60	974.00	1002.50	970.60	1.226 times
14 Wed Aug 2024	965.70	903.00	984.30	899.05	4.411 times
13 Tue Aug 2024	895.10	922.00	924.80	891.00	0.691 times
12 Mon Aug 2024	924.10	910.00	937.35	886.65	0.687 times
09 Fri Aug 2024	912.10	935.85	941.95	910.00	0.446 times

My analysis of stock is bullish for shortterm, but trade for tomorrow is selective. Take a BUY trade only if stock stays above 1012, but if it comes below 1012, then a intra day sell could be more profitable.
If you take a sell trade below 1012, then use 1012 as stoploss and 970.44 as target. However if you take a buy trade in stock , then use 1012 as stoploss and 1061.9 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	886.65
Downside Target	945.65
Downside Target	975.00
Upside Target	1035.70
Upside Target	1039.00
Upside Target	1041.80
Upside Target	1058.70
Upside Target	1122.50
Upside Target	1275.00

Intraday share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Intraday Target	981.5
Downside Intraday Target	946.25
Upside Intraday Target	1045.5
Upside Intraday Target	1074.25
Downside Intraday Target	1010.25

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
23 Fri Aug 2024	1016.75	987.00	1039.00	975.00	0.47 times
16 Fri Aug 2024	981.60	910.00	1002.50	886.65	2.401 times
09 Fri Aug 2024	912.10	960.05	983.85	902.55	0.948 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

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
23 Fri Aug 2024	1016.75	1016.90	1039.00	886.65	0.28 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 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 positive, but buyers have become active on the stock recently. This cannot be a definite uptrend, 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 Strong and stock is gaining momentum.

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

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 stronger in this stock.

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 but selling 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 967.61 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 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.