Get started

Cpcl

CPCL Made RSI Bullish Divergence From a Key Level NSE:CHENNPETRO today made a good upmove with good volumes from previous key breakout levels in Sep 2023 with RSI Bullish Divergence on Daily Charts on Back of TVC:UKOIL going below 70 Dollars. About: NSE:CHENNPETRO is in the business of refining crude oil to produce & supply various petroleum products and manufacture and sale of lubricating oil additives. Trade Setup: Could be a good 1:2.7 Risk Reward Trade Can give pullback up to 200 DSMA Target(Take Profit): Around 781 Levels or Falling 200 DSMA for Positional Trader. Stop Loss: Entry Candle Low for Swing Trader and Marked Levels for Positional Trader. 📌Thank you for exploring my idea! I hope you found it valuable. 🙏FLLOW for more 👍BOOST if useful ✍️COMMENT Below your views. Meanwhile, check out my other stock ideas on the right side until this trade is activated. I would love your feedback. Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER." This analysis is intended solely for informational and educational purposes only and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
NSE:CHENNPETROLong
by Karanshah137
Chennai Petroleum for 85%+ gainsDate: 23 Oct’24 Symbol: CHENNPETRO Timeframe: Daily The 14th Oct post is not visible somehow so posting the same chart. Chennai Petroleum Corp Ltd currently seems to be in Wave 4 which may end around 780-820, marked as demand zone in the chart. September quarter results are not good so consolidation in Wave 4 can be longer. Wave 5 could then head to around 1500+ levels (85%+ from end of Wave 4). We can review this for more clarity on the target when it moves past 1000. This is not a trade recommendation. Please do your own analysis. Chennai Petroleum Corp Ltd vartamaan mein Wave 4 mein dikh raha hai jo 780-820 ke aaspaas samaapt ho sakta hai, jise chart mein Demand zone ke roop mein dikhaya gaya hai. September quarter ke result acche nahi aaye hain to Wave 4 thoda lamba chal sakta hai. Wave 5 tab lagbhag 1500+ star (Wave 4 ke ant se 85%+) tak pahunch sakta hai. Target par adhik spashtata ke lie ham iski sameeksha tab kar sakate hain jab yah 1000 ke paar chala jae. Yah koi trade lene ki salah nahi hai. Kripya apna vishleshan khud karein.
NSE:CHENNPETROLong
by DhandhaPaani
Chennai Petrolium breakout 1. Buy or Sell at your own risk 2. Don't risk more than 1%-2% of your capital as stop loss 3. Position Size formula:- Stop Loss Amount/(Buy Price-Initial Stop Loss Price) 4. Sell on initial stop loss hit or daily RSI closing below 40 5. Some other ways to sell stocks can be a. 25% or 50% up in three weeks or less b. Weekly tailing tops with high volume c. Exhaustion gaps d. Heavy daily volume without further upside e. Largest one day price drop after a long downtrend since June 2021, NSE:CHENNPETRO has given a high volume breakout today. The company posted a quarterly sales growth of 68%, quarterly profit growth of 141%, TTM sales growth of 60% and TTM profit growth of 135% in December quarter. Buy with a stop just below Rs.133.
NSE:CHENNPETROLong
by akashbothra