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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 2024-03-26 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 951476

Date	Daily Closing Price	Open	High	Low	Volume
26 Tue Mar 2024	878.10	877.70	894.80	860.00	0.926 times
22 Fri Mar 2024	877.70	856.50	889.45	856.50	0.795 times
21 Thu Mar 2024	865.40	857.70	884.70	857.70	0.733 times
20 Wed Mar 2024	847.70	868.20	871.15	842.00	0.703 times
19 Tue Mar 2024	868.20	850.00	888.80	825.50	1.784 times
18 Mon Mar 2024	846.50	882.50	885.00	827.55	0.687 times
15 Fri Mar 2024	877.30	840.00	885.90	812.85	1.585 times
14 Thu Mar 2024	851.05	780.95	857.90	768.05	1.059 times
13 Wed Mar 2024	777.35	860.00	860.00	743.05	1.224 times
12 Tue Mar 2024	860.70	887.45	891.45	853.20	0.879 times

My analysis of stock is bearish for shortterm, and stock might move down till 846.6 or till 807.9. Use a stoploss of 878.81 and if the stock hits stoploss, then it can shoot up till 911.04

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	860.00
Upside Target	905.50
Upside Target	908.00
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	860.47
Downside Intraday Target	842.83
Upside Intraday Target	895.27
Upside Intraday Target	912.43
Downside Intraday Target	877.63

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
26 Tue Mar 2024	878.10	877.70	894.80	860.00	0.197 times
22 Fri Mar 2024	877.70	882.50	889.45	825.50	0.888 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

Price has moved up 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
26 Tue Mar 2024	878.10	895.00	944.00	743.05	0.478 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 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 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 is trading near its recent HIGHS, which reflects strong buying momentum in short term! 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 855.08 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 rising upwards.

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.