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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 2024-12-23 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 1391473

Date	Daily Closing Price	Open	High	Low	Volume
23 Mon Dec 2024	601.40	594.50	606.35	584.65	0.606 times
20 Fri Dec 2024	594.30	606.00	617.80	590.25	1.252 times
19 Thu Dec 2024	606.20	568.20	611.95	562.55	4.229 times
18 Wed Dec 2024	574.55	585.20	587.00	572.00	0.485 times
17 Tue Dec 2024	585.70	592.00	595.65	585.00	0.391 times
16 Mon Dec 2024	594.05	598.10	599.00	590.05	0.512 times
13 Fri Dec 2024	592.40	595.00	601.15	591.00	0.664 times
12 Thu Dec 2024	598.35	604.00	605.05	596.00	0.456 times
11 Wed Dec 2024	601.75	609.55	612.40	600.00	0.445 times
10 Tue Dec 2024	605.40	602.30	610.40	592.50	0.653 times

My analysis of stock is bearish for shortterm, and stock might move down till 591.3 or till 567.9. Use a stoploss of 610.75 and if the stock hits stoploss, then it can shoot up till 630.21

Share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Target	562.55
Downside Target	584.65
Upside Target	606.35
Upside Target	657.80
Upside Target	676.90
Upside Target	853.35
Upside Target	886.65
Upside Target	993.75
Upside Target	999.00
Upside Target	1039.00

Intraday share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Intraday Target	588.58
Downside Intraday Target	575.77
Upside Intraday Target	610.28
Upside Intraday Target	619.17
Downside Intraday Target	597.47

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
23 Mon Dec 2024	601.40	594.50	606.35	584.65	0.088 times
20 Fri Dec 2024	594.30	598.10	617.80	562.55	2.195 times
13 Fri Dec 2024	592.40	619.65	620.80	591.00	0.658 times
06 Fri Dec 2024	619.10	625.00	657.80	616.10	1.174 times
29 Fri Nov 2024	626.75	599.00	633.80	588.75	0.664 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 Mon Dec 2024	601.40	625.00	657.80	562.55	0.577 times
29 Fri Nov 2024	626.75	647.05	676.90	565.20	1.319 times
31 Thu Oct 2024	639.70	936.90	999.00	633.05	2.208 times
30 Mon Sep 2024	934.45	985.00	993.75	853.35	0.675 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 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 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 definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this 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 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 in short term is moving inside a range for now. Please check in a day or two to for a better buy sell signal. 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 SELL signal for Chennai Petroleum in short term but SELL 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 599.74 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 negative.

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