Chennai Petro - Multi Year Breakout

Jul 6, 2023

Cant Miss this Breakout !!!

Look Closely Counter is breaking multiyear High of Nov 2007 and Oct2017. Forming a Double Bottom as well in this Process.

The Oil & Gas Index has also given a monthly Demand Zone Pull and the Index itself is moving +500 Points. This is supporting my logic

Should go a Long way if the breakout above 445 sustains.

Take entry at CMP 441-445
T1 - 478 shorterm
T2 - 557 midterm
T3 - 700 Long Term
SL - 424

Fundamentals for Value Investors

• Strong Annual EPS Growth
  
• High Revenue and Profit Growth with High Return on Capital Deployed (ROCE) and Low PE ratio
  
• Effectively using its capital to generate profit - RoCE improving in last 2 years
  
• High growth and High Return on Equity (ROE) with Low PE ratio
  
• Effectively using Shareholders fund - Return on equity (ROE) improving since last 2 year
  
• Strong Momentum: Price above short, medium and long term moving averages
  
• Annual Net Profits improving for last 2 years
  
• FII / FPI or Institutions increasing their shareholding
  
  

Jul 25, 2023

Trade closed: stop reached

SL Hit however there is a dividend declared for Rs27/-

Sep 8, 2023

Note

Meeting Target one today 478

Oct 17, 2023

Note

Met Target 557. Seen 606 on charts

Dec 28, 2023

Trade closed: target reached

Target Hit of 700 from 440 Levels