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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 2024-12-16 View latest technical analysis

10 day averaged volume of Chennai Petroleum is 1097424

Date	Daily Closing Price	Open	High	Low	Volume
16 Mon Dec 2024	594.05	598.10	599.00	590.05	0.65 times
13 Fri Dec 2024	592.40	595.00	601.15	591.00	0.841 times
12 Thu Dec 2024	598.35	604.00	605.05	596.00	0.578 times
11 Wed Dec 2024	601.75	609.55	612.40	600.00	0.565 times
10 Tue Dec 2024	605.40	602.30	610.40	592.50	0.828 times
09 Mon Dec 2024	600.20	619.65	620.80	597.75	1.157 times
06 Fri Dec 2024	619.10	631.00	634.00	616.10	0.954 times
05 Thu Dec 2024	630.15	649.95	650.15	628.00	1.226 times
04 Wed Dec 2024	646.35	649.85	657.80	640.00	0.888 times
03 Tue Dec 2024	649.85	635.00	655.70	630.85	1.59 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 584.2 as stoploss in an intra day buy trade for a target of 607.23. However, stock will show a bearish move below 584.2.

Share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Target	565.20
Downside Target	588.75
Upside Target	633.80
Upside Target	657.80
Upside Target	676.90
Upside Target	853.35
Upside Target	886.65
Upside Target	993.75
Upside Target	999.00
Upside Target	1039.00

Intraday share price targets for Chennai Petroleum (CHENNPETRO)

Target Type	Value
Downside Intraday Target	589.73
Downside Intraday Target	585.42
Upside Intraday Target	598.68
Upside Intraday Target	603.32
Upside Intraday Target	594.37

Weekly technical analysis of Chennai Petroleum (CHENNPETRO)

Date	Weekly Closing Price	Open	High	Low	Volume
16 Mon Dec 2024	594.05	598.10	599.00	590.05	0.164 times
13 Fri Dec 2024	592.40	619.65	620.80	591.00	0.658 times
06 Fri Dec 2024	619.10	625.00	657.80	616.10	1.174 times
29 Fri Nov 2024	626.75	599.00	633.80	588.75	0.664 times
22 Fri Nov 2024	583.25	579.00	607.70	565.20	1.264 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
16 Mon Dec 2024	594.05	625.00	657.80	590.05	0.316 times
29 Fri Nov 2024	626.75	647.05	676.90	565.20	1.319 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

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 negative, but sellers have recently become active on the stock. This cannot be called a strong downtrend, specially if selected time duration is small

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 gaining momentum.

MACD generated a BUY signal for Chennai Petroleum in short term but the buy 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 LOWS in short term which reflects strong selling momentum. Bears are getting stronger in this stock.

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

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 and selling is picking up momentum.

MRSI is in positive zone. This is a BUY zone

Stock of Chennai Petroleum is picking up buying momentum according to indicator.

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 618.34 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.