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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 2024-11-07 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 2237516

Date	Daily Closing Price	Open	High	Low	Volume
07 Thu Nov 2024	655.60	671.50	672.00	647.65	0.796 times
06 Wed Nov 2024	665.70	639.10	676.90	635.35	1.954 times
05 Tue Nov 2024	632.40	610.20	645.20	610.00	2.622 times
04 Mon Nov 2024	614.70	656.05	658.40	612.05	0.957 times
01 Fri Nov 2024	655.65	647.05	657.00	647.05	0.094 times
31 Thu Oct 2024	639.70	643.00	655.00	633.05	0.607 times
30 Wed Oct 2024	646.35	683.00	683.05	641.70	1.09 times
29 Tue Oct 2024	681.05	693.80	717.80	673.65	0.541 times
28 Mon Oct 2024	692.25	709.50	720.00	685.90	0.66 times
25 Fri Oct 2024	707.70	763.00	766.30	696.80	1.028 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 650.2 as stoploss in an intra day buy trade for a target of 771.49. However, stock will show a bearish move below 650.2.

Share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Target	610.00
Downside Target	633.05
Upside Target	676.90
Upside Target	696.80
Upside Target	720.00
Upside Target	853.35
Upside Target	882.70
Upside Target	925.00
Upside Target	945.65
Upside Target	993.75
Upside Target	999.00
Upside Target	1039.00
Upside Target	1275.00

Intraday share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Intraday Target	618.1
Downside Intraday Target	580.6
Upside Intraday Target	685
Upside Intraday Target	714.4
Downside Intraday Target	647.5

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
07 Thu Nov 2024	655.60	656.05	676.90	610.00	2.115 times
01 Fri Nov 2024	655.65	709.50	720.00	633.05	0.737 times
25 Fri Oct 2024	707.70	925.00	925.00	696.80	1.241 times
18 Fri Oct 2024	929.95	913.00	999.00	884.00	3.37 times
11 Fri Oct 2024	909.00	950.00	951.30	882.70	0.636 times

Price has moved down this week, and volume has increased substantially. This means that the move can continue in coming weeks.

Monthly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Monthly Closing Price	Open	High	Low	Volume
07 Thu Nov 2024	655.60	647.05	676.90	610.00	0.512 times
31 Thu Oct 2024	639.70	936.90	999.00	633.05	2.208 times
30 Mon Sep 2024	934.45	985.00	993.75	853.35	0.675 times
30 Fri Aug 2024	975.40	1016.90	1039.00	886.65	0.315 times

Scroll below to view daily charts

Price has moved up 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 positive, but trend is highly volatile. A longer time period analysis might give a better idea of the trend.

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 negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this 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 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 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 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 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 654.78 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.