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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 2024-03-11 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 935245

Date	Daily Closing Price	Open	High	Low	Volume
11 Mon Mar 2024	887.90	896.00	905.50	882.90	0.561 times
07 Thu Mar 2024	903.95	905.00	922.00	892.60	0.816 times
06 Wed Mar 2024	901.50	922.00	944.00	893.30	1.125 times
05 Tue Mar 2024	921.85	893.50	932.95	879.55	1.93 times
04 Mon Mar 2024	893.90	910.00	913.90	890.65	0.5 times
02 Sat Mar 2024	908.70	895.50	916.70	895.45	0.058 times
01 Fri Mar 2024	894.70	895.00	923.40	891.30	0.715 times
29 Thu Feb 2024	884.05	919.00	922.90	871.40	1.488 times
28 Wed Feb 2024	915.05	916.00	966.65	908.20	1.788 times
27 Tue Feb 2024	914.65	944.00	946.90	902.10	0.79 times

My analysis of stock is bearish for shortterm, but stock is semi over sold and there are some chances of seeing a recovery tomorrow. Use 885.4 as stoploss in an intra day buy trade for a target of 920.13. However, stock will show a bearish move below 885.4.

Share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Target	569.10
Downside Target	653.45
Downside Target	674.00
Downside Target	693.05
Downside Target	741.10
Downside Target	810.00
Downside Target	871.40
Upside Target	905.50
Upside Target	944.00
Upside Target	966.65
Upside Target	999.90
Upside Target	1036.30

Intraday share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Intraday Target	878.7
Downside Intraday Target	869.5
Upside Intraday Target	901.3
Upside Intraday Target	914.7
Upside Intraday Target	892.1

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
11 Mon Mar 2024	887.90	896.00	905.50	882.90	0.128 times
07 Thu Mar 2024	903.95	910.00	944.00	879.55	0.777 times
02 Sat Mar 2024	908.70	945.10	966.65	871.40	0.635 times
23 Fri Feb 2024	949.10	955.60	1036.30	915.00	0.777 times
16 Fri Feb 2024	950.50	890.00	999.90	810.00	1.848 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
11 Mon Mar 2024	887.90	895.00	944.00	879.55	0.168 times
29 Thu Feb 2024	884.05	856.00	1036.30	810.00	0.868 times
31 Wed Jan 2024	854.00	705.00	908.00	693.05	1.413 times
29 Fri Dec 2023	696.00	668.80	741.10	653.45	0.609 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 term time period is neutral. A longer time frame might give a better analysis.

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 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 losing 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 getting stronger in this stock.

Ichimoku cloud is of green color and prices are in or below the green cloud Prices appear to be coming down

CCI has generated a SELL signal for Chennai Petroleum in short term and SELL 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 904.98 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 positive

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