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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 2024-03-19 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 978224

Date	Daily Closing Price	Open	High	Low	Volume
19 Tue Mar 2024	868.20	850.00	888.80	825.50	1.735 times
18 Mon Mar 2024	846.50	882.50	885.00	827.55	0.668 times
15 Fri Mar 2024	877.30	840.00	885.90	812.85	1.542 times
14 Thu Mar 2024	851.05	780.95	857.90	768.05	1.03 times
13 Wed Mar 2024	777.35	860.00	860.00	743.05	1.19 times
12 Tue Mar 2024	860.70	887.45	891.45	853.20	0.855 times
11 Mon Mar 2024	887.90	896.00	905.50	882.90	0.537 times
07 Thu Mar 2024	903.95	905.00	922.00	892.60	0.78 times
06 Wed Mar 2024	901.50	922.00	944.00	893.30	1.075 times
05 Tue Mar 2024	921.85	893.50	932.95	879.55	1.845 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 854.2 as stoploss in an intra day buy trade for a target of 892.78. However, stock will show a bearish move below 854.2.

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	915.00
Upside Target	944.00
Upside Target	966.65
Upside Target	1036.30

Intraday share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Intraday Target	832.87
Downside Intraday Target	797.53
Upside Intraday Target	896.17
Upside Intraday Target	924.13
Downside Intraday Target	860.83

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
19 Tue Mar 2024	868.20	882.50	888.80	825.50	0.466 times
15 Fri Mar 2024	877.30	896.00	905.50	743.05	1.233 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

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
19 Tue Mar 2024	868.20	895.00	944.00	743.05	0.384 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 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 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.

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 buy signal for Chennai Petroleum in short term but BUY signal is weak.

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

Although the stock is in the BUY zone, but buying 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 871.81 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.