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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 2024-03-12 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 913767

Date	Daily Closing Price	Open	High	Low	Volume
12 Tue Mar 2024	860.70	887.45	891.45	853.20	0.915 times
11 Mon Mar 2024	887.90	896.00	905.50	882.90	0.574 times
07 Thu Mar 2024	903.95	905.00	922.00	892.60	0.835 times
06 Wed Mar 2024	901.50	922.00	944.00	893.30	1.151 times
05 Tue Mar 2024	921.85	893.50	932.95	879.55	1.975 times
04 Mon Mar 2024	893.90	910.00	913.90	890.65	0.512 times
02 Sat Mar 2024	908.70	895.50	916.70	895.45	0.059 times
01 Fri Mar 2024	894.70	895.00	923.40	891.30	0.731 times
29 Thu Feb 2024	884.05	919.00	922.90	871.40	1.523 times
28 Wed Feb 2024	915.05	916.00	966.65	908.20	1.83 times

Although my analysis for stock is bearish for shortterm, but stock is in heavy over sold zones and there are high chances of some recovery tomorrow. You might want to buy the stock tomorrow in intra day with a stoploss of 849.3, for a target of 888.5 or 921.12

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	853.20
Upside 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	840.77
Downside Intraday Target	820.83
Upside Intraday Target	893.07
Upside Intraday Target	925.43
Upside Intraday Target	873.13

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
12 Tue Mar 2024	860.70	896.00	905.50	853.20	0.333 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
12 Tue Mar 2024	860.70	895.00	944.00	853.20	0.194 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 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 negative, but sellers have recently become active on the stock. This cannot be called a strong downtrend, specially if selected time duration is small

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 SELL. Signal strength is Weak and stock is gaining 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 and selling is picking up momentum.

MRSI is in positive zone. This is a BUY 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 900.2 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.