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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 2024-03-14 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 872684

Date	Daily Closing Price	Open	High	Low	Volume
14 Thu Mar 2024	851.05	780.95	857.90	768.05	1.154 times
13 Wed Mar 2024	777.35	860.00	860.00	743.05	1.334 times
12 Tue Mar 2024	860.70	887.45	891.45	853.20	0.958 times
11 Mon Mar 2024	887.90	896.00	905.50	882.90	0.601 times
07 Thu Mar 2024	903.95	905.00	922.00	892.60	0.875 times
06 Wed Mar 2024	901.50	922.00	944.00	893.30	1.205 times
05 Tue Mar 2024	921.85	893.50	932.95	879.55	2.068 times
04 Mon Mar 2024	893.90	910.00	913.90	890.65	0.536 times
02 Sat Mar 2024	908.70	895.50	916.70	895.45	0.062 times
01 Fri Mar 2024	894.70	895.00	923.40	891.30	0.766 times

My analysis of stock is bearish for shortterm, but trade for tomorrow is selective. Take a sell trade only if stock stays below 863.8, but if it comes above 863.8, then a intra day buy could be more profitable.
If you take a sell trade below 863.8, then use 863.8 as stoploss and 809.9 as target. However if you take a buy trade in stock , then use 863.8 as stoploss and 908.67 as target.

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
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	760.9
Downside Intraday Target	670.75
Upside Intraday Target	923.35
Upside Intraday Target	995.65
Downside Intraday Target	833.2

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
14 Thu Mar 2024	851.05	896.00	905.50	743.05	0.864 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
14 Thu Mar 2024	851.05	895.00	944.00	743.05	0.262 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 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 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 Strong 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 weakening, and bulls are picking up momentum!

Ichimoku cloud is of red color and prices are below the red cloud Prices appear to be moving up

CCI has generated a buy signal for Chennai Petroleum in short term but BUY signal is weak.

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 876.84 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 negative.

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