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CHENNAI PETROLEUM CORPORATION

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CHENNPETRO trade ideas

CHENNAI PETROLEUM CORP LTDA stock that was strongly bullish for the past 1.5 years started declining from August 2024. In the weekly time frame, drawing a swing-based Fibonacci retracement shows that the current price has reached the **0.618 level**. This could be a good opportunity for either short-term or long-term investment, as the **0.618 retracement level** is considered a strong support zone where prices often bounce back. However, it's essential to confirm with additional technical indicators or market conditions before making a decision.
NSE:CHENNPETROLong
by Kannansen
CHENNAI PETROLEUM CORP LTD S/RSupport and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) : Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum. Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:CHENNPETRO
by zenthosh
Chennai Petroleum's Sharp Drop Hits All Targets in 15m TradeAnalysis: Chennai Petroleum (CHENNPETRO) displayed strong bearish momentum on the 15-minute chart using Risological Swing Trader , leading to a successful short trade where all targets have been achieved. Trade Summary: Entry Level: 912.85 Target Levels: TP1: 859.65 ✅ TP2: 773.50 ✅ TP3: 687.35 ✅ TP4: 634.10 ✅ Stop Loss: 955.95 Key Points: Consistent Downtrend: The stock has followed a consistent downtrend, highlighted by the descending red moving average, indicating continued selling pressure. Sector Impact: The broader energy sector may also be experiencing pressure, impacting stocks like Chennai Petroleum. Recent economic shifts could be contributing to the bearish outlook. Conclusion: The Chennai Petroleum short trade has successfully reached all marked targets. This movement reinforces the bearish sentiment in the stock, offering potential opportunities for traders monitoring short positions.
NSE:CHENNPETROShort
by ProfitsNinja
2
Price Action Trading Analysis: Chennai Petroleum Corp Ltd Price action trading is a method of technical analysis that relies on historical prices to predict future price movements. In this analysis, we'll focus on Chennai Petroleum Corp Ltd (CHENNPETRO) on the National Stock Exchange (NSE). The chart spans from October 2023 to October 2024, showcasing significant trends and potential trading opportunities. Upward Trend and Trendline Support The chart reveals a clear upward trend with some volatility, marked by significant peaks and troughs. An ascending trendline provides key support levels, with the price bouncing off this line multiple times. This trendline acts as a reliable indicator for traders to identify potential entry points. Key Observations Support and Resistance Levels: The trendline serves as a strong support, with the price repeatedly rebounding when it nears this level. Resistance levels can be observed at the peaks where the price struggles to break through, creating potential selling opportunities. Volume Analysis: Volume bars at the chart's bottom indicate trading activity. Notable spikes in volume often precede significant price movements, suggesting heightened investor interest. Analyzing volume trends helps confirm the strength of price movements and potential reversals. Daily Price Movements: The price action shows daily fluctuations, with the current price at INR 956.00, reflecting a change of +27.05 (+2.91%). Monitoring daily movements and changes provides insights into market sentiment and potential short-term trends. Trading Strategies Trendline Bounces: Traders can look for buying opportunities when the price approaches and rebounds from the ascending trendline. These bounces provide low-risk entry points, with the trendline acting as a natural stop-loss level. Breakouts: A breakout above resistance levels, especially with increased volume, can signal the start of a new upward leg. Similarly, a breakdown below the trendline support could indicate a reversal, prompting short-selling opportunities. Volume Confirmation: Confirming price movements with volume trends enhances the reliability of the signals. High volume during upward movements suggests strong buying interest, while low volume during pullbacks indicates weak selling pressure. Conclusion The price action of Chennai Petroleum Corp Ltd (CHENNPETRO) showcases a robust upward trend supported by an ascending trendline. By analyzing support and resistance levels, volume trends, and daily price movements, traders can identify potential entry and exit points. Leveraging these insights helps enhance trading decisions, contributing to more informed and potentially profitable trades.
NSE:CHENNPETROLong
by stocktechbot
CHENNPETRO CHANNEL MOVEMENTNSE:CHENNPETRO pattern chart pattern observation in 2024. High Volume breakouts leading to all-time highs followed by retracement and support at the bottom of the channel. Overall channel movement is in the upward direction. Possible dip for the next ATH? Disclosure: I am not SEBI registered. The information provided here is for educational purposes only. Consult your financial advisor before making any decisions. Study is neither advice nor endorsement.
NSE:CHENNPETROLong
by adhikarijayesh
CHENNAI PETRO S/R for 18/7/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support. Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline. Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities. Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement. 20 EMA: The yellow line denotes 20 EMA, to interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend. But if the stock price is above the 20 EMA, it signals a possible uptrend. Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
NSE:CHENNPETRO
by zenthosh
CHENNAI PETROL CP S/R for 16/7/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support. Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline. Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities. Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement. 20 EMA: The yellow line denotes 20 EMA, to interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend. But if the stock price is above the 20 EMA, it signals a possible uptrend. Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
NSE:CHENNPETRO
by zenthosh
NSE:CHENNPETRO - Can it break way multyear high this time?Chennai Petroleum Corporation Limited is in the business of refining crude oil to produce & supply various petroleum products and manufacture and sale of lubricating oil additives. Company has reduced debt. Stock is trading at 0.92 times its book value Company is expected to give good quarter Company has delivered good profit growth of 31.1% CAGR over last 5 years Company has a good return on equity (ROE) track record: 3 Years ROE 54.7% Company's working capital requirements have reduced from 25.9 days to 11.0 days NSE:CHENNPETRO disc: No investment
NSE:CHENNPETRO
by Peaceful-Weekend-Investing
2
Chennai Petroleum Corporation LtdTARGET AND SL IN CHART BREAKOUT OBSERVED AFTER 300 + WEEKS CONSOLIDATION FUNDAMENTALS Market Cap ₹ 7,126 Cr. Current Price ₹ 479 52 W High / Low ₹ 492 / 186 Stock P/E 4.14 Book Value ₹ 422 Dividend Yield 5.64 % ROCE 45.5 % ROE 70.2 % Face Value ₹ 10.0 Promoter holding 67.3 % EPS last year ₹ 237 EPS latest quarter ₹ 36.8 Debt ₹ 3,760 Cr. Pledged percentage 0.00 % Net CF ₹ -7.10 Cr. Price to Cash Flow 1.24 Free Cash Flow ₹ 5,331 Cr. Debt to equity 0.55 OPM last year 7.47 % OPM 5Year 4.03 % Reserves ₹ 6,132 Cr. Price to book value 1.13 Int Coverage 8.57 PEG Ratio 0.13 Price to Sales 0.10 Sales growth 3Years 27.3 % Profit Var 3Yrs 54.7 %
NSE:CHENNPETROLong
by madhu2811
CHENNPETRO 15 years + breakoutNSE:CHENNPETRO BSE:CHENNPETRO Time Frame – Weekly Observations : - * Big Consolidation & range formation of 15 years + breakout done * We can say flat pattern breakout also * Closed above 15 + years high & 2022 high * Monthly closed will is pending for more confirmation of this breakout Resistance – 562 / 712 / 885 Support – 420 - 375 zone & next 235-193 zone DISCLAIMER : NCFM Certified Technical Analyst. I am not SEBI registered analyst. All posts are for educational purposes only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.
NSE:CHENNPETROLong
by Chart_World
CHENNAI Petroleum CP is Undervalued,Worth investment 26/02/21as we can see the price was falling in an bearish channel and we have a bullish divergence on MACD which is showing the price reversal, i see this stock as an undervalued stock as 100RS is a very cheap price for a petroleum company and we can see as the oil price is rising even the stock of the fuel companies will rise consequently, with Current Ratio of 0.5863 it seems to me a very good investment opportunity as it is a dividend paying stock too there are total of 3 targets to capitalize on there are chances or more down fall even up to its ATL but yet it is worth of rebuying even at that low as we had 450rs for its ATH...
NSE:CHENNPETROLong
by BitonGroup
5