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CHENNAI PETROLEUM CORPORATIONCHENNAI PETROLEUM CORPORATIONCHENNAI PETROLEUM CORPORATION

CHENNAI PETROLEUM CORPORATION

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CHENNPETRO trade ideas

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
Multi months breakout in Chennai PetroleumChennai Petroleum Corporation Limited - Falling trendline - breakout seen in the prices along with breakout in RSI. volumes, a bull sash candle, closed above EMA 61, all these are seen in the daily time frame, indicating a further up move in prices. Prices can move up at least up to 240 and above that, they can rally to 250 -275. Can be bought if the price corrects and sustains between 215 - 200 levels in small quantities. Stop-loss below 190 on a daily close basis. Holding duration 3-4 weeks. This call becomes invalid if prices open above 225 or below 195.
NSE:CHENNPETROLong
by TraderRahulPal
4
Chennai Petro Falling Wedge AnalysisChennai Petro Falling Wedge Analysis 🔥🔥🔥 The above chart of Chennai Petro laid out a Falling Wedge pattern. In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal. This pattern indicates a breakout in the price trend towards an upswing. From the above chart, we can interpret that the momentum of the downtrend is slowing down. Chennai Petro is currently trading around 238Rs. If the pattern broke through the resistance, the price of Chennai Petro might reach the resistance levels of 285Rs. If the trend reverses, then the price of Chennai Petro may fall to 220Rs Trading Level Buy Level 248 Target 285 Stop Loss 220 Happy Trading
NSE:CHENNPETROLong
by TheNewsCrypto
17
Chennai Petroleum Corporation Trend AnalysisMassive dump ahead!! The price has risen with strong momentum towards key supply zone which is exactly at FIB golden ratio. Its time to convert your unrealized profits into realized profits before getting wiped out. Weekly RSI is at highly overbought territory and is showing strong bearish divergence. Technically price has reached its target, its time for a sell off. Fundamentally, debt/equity has increased too much to concerning level of 3.31 Promoters may sell off to reduce their debt. Anything can happen. Better to stay away from FOMO because of news that Dolly Khanna bought these shares. She can wait for years, retail public cannot. I have highlighted key support level around 150 for a possible bounce. Best level to accumulate is around 100-125 level highlighted as green zone. Do your own due diligence before taking any action. Peace!!
NSE:CHENNPETROShort
by Swastik24