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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 2024-03-21 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 987558

Date	Daily Closing Price	Open	High	Low	Volume
21 Thu Mar 2024	865.40	857.70	884.70	857.70	0.706 times
20 Wed Mar 2024	847.70	868.20	871.15	842.00	0.678 times
19 Tue Mar 2024	868.20	850.00	888.80	825.50	1.718 times
18 Mon Mar 2024	846.50	882.50	885.00	827.55	0.662 times
15 Fri Mar 2024	877.30	840.00	885.90	812.85	1.528 times
14 Thu Mar 2024	851.05	780.95	857.90	768.05	1.02 times
13 Wed Mar 2024	777.35	860.00	860.00	743.05	1.179 times
12 Tue Mar 2024	860.70	887.45	891.45	853.20	0.846 times
11 Mon Mar 2024	887.90	896.00	905.50	882.90	0.531 times
07 Thu Mar 2024	903.95	905.00	922.00	892.60	0.773 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 847.6 as stoploss in an intra day buy trade for a target of 885.6. However, stock will show a bearish move below 847.6.

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	831
Downside Intraday Target	796.6
Upside Intraday Target	894.3
Upside Intraday Target	923.2
Downside Intraday Target	859.9

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
21 Thu Mar 2024	865.40	882.50	888.80	825.50	0.737 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
21 Thu Mar 2024	865.40	895.00	944.00	743.05	0.427 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 positive! This means that there is a strong uptrend in the stock for the given time period. Buyers are extremely bullish on the stock.

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 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 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 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 and BUY signal is strong.

RSI is generating a SELL signal in short term and selling is picking up 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 856.88 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 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.