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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)

10 day averaged volume of Chennai Petroleum is 999548

Date Daily Closing Price Open High Low Volume
23 Thu May 2024 939.15 898.00 945.50 898.00 1.749 times
22 Wed May 2024 892.45 896.35 903.00 882.20 0.563 times
21 Tue May 2024 890.55 895.00 908.75 879.50 0.671 times
20 Mon May 2024 897.95 884.00 900.00 879.65 0.135 times
17 Fri May 2024 876.35 899.90 905.85 875.00 0.948 times

My analysis of stock is bullish for shortterm, and stock might move up till 1009.3 or till 1093.5. Use a stoploss of 939.06 and if this stock hits its stoploss, then it can fall down till 868.87

Share price targets for Chennai Petroleum (CHENNPETRO)

Target Type Value
Downside Target 693.05
Downside Target 743.05
Downside Target 810.00
Downside Target 828.50
Downside Target 862.20
Downside Target 879.50
Downside Target 908.00
Upside Target 944.00
Upside Target 1006.05
Upside Target 1035.70
Upside Target 1036.30
Upside Target 1066.90
Upside Target 1122.50

Intraday share price targets for Chennai Petroleum (CHENNPETRO)

Target Type Value
Downside Intraday Target 897.27
Downside Intraday Target 855.38
Upside Intraday Target 963.27
Upside Intraday Target 987.38
Downside Intraday Target 921.38

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date Weekly Closing Price Open High Low Volume
23 Thu May 2024 939.15 884.00 945.50 879.50 0.63 times
17 Fri May 2024 876.35 856.30 924.40 828.50 0.518 times
10 Fri May 2024 856.25 1025.00 1026.00 832.50 2.54 times
03 Fri May 2024 1017.00 1065.85 1066.90 1006.05 0.146 times
26 Fri Apr 2024 1051.65 950.85 1122.50 915.10 4.343 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 Thu May 2024 939.15 1028.20 1035.70 828.50 0.478 times
30 Tue Apr 2024 1022.85 910.00 1122.50 862.20 2.284 times
28 Thu Mar 2024 906.80 895.00 944.00 743.05 0.556 times
29 Thu Feb 2024 884.05 856.00 1036.30 810.00 0.868 times

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)

Indicator Name Indicator Value Indicator Signal
ADX 24, 21, 5 Buy
MACD -13, -12Sell
Stochastics 73Buy
CCI 161Buy
RSI 55Buy
OBV 10186980Sell
VWAP 893Buy
ADL 0Sell
ROC 11Buy
Force Index 0Sell

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 term time period is positive, but trend is highly volatile. A longer time period analysis might give a better idea of the trend.

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 positive, but trend is highly volatile. A longer time period analysis might give a better idea of the trend.

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

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

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 BUY signal in short term and the buying is gaining 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 892.54 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.

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