This Stock is Bouncing Back from Strong Support, Big Move ahead.Hello everyone , i hope you all will be doing good in your life and your trading as well. Today i have brought an idea on Chennai Petroleum which is Looking fantastic on chart. Let's analyse this and find opportunity for short term to long term.
Looking at the weekly chart of Chennai Petroleum Corp Ltd., the stock has previously made some huge moves — a 277% rally and even a bigger 462% swing . These past moves highlight that the stock has the potential for major price action when the right conditions align. Right now, the stock has found support at an important rising support trendline , which could set the stage for another upward move.
Recently, a bullish engulfing candle with a significant volume spike formed, which is a strong signal for a potential reversal. For those looking to enter, the 570-530 range could be a good spot. The first short-term target is 651 , followed by 750 and a medium-term target of 851 . For those in it for the long haul, the final target could be around 1065 . If the price moves against us, a stop loss at 433 will help manage the risk. Given the stock's history and recent chart formation, we might just see history repeat itself, making this a solid opportunity for both short-term and long-term trades.
Fundamental Ratio:
Market Cap
₹ 8,360 Cr.
Current Price
₹ 561
High / Low
₹ 1,275 / 433
Stock P/E
22.5
Book Value
₹ 518
Dividend Yield
9.80 %
ROCE
35.1 %
ROE
35.9 %
Face Value
₹ 10.0
Industry PE
20.3
Debt
₹ 6,114 Cr.
EPS
₹ 25.0
Promoter holding
67.3 %
Intrinsic Value
₹ 482
Return over 5years
53.6 %
Debt to equity
0.79
Net profit
₹ 372 Cr.
Disclaimer:- This analysis is for educational purposes only. Please trade responsibly and consult a financial advisor before making any decisions.
If you found this analysis helpful, don’t forget to like, follow, and share your thoughts in the comments below! Your support keeps me motivated to share more insights. Let’s grow and learn together—happy trading!
