Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1%-2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Please note that, if there are some big targets, those are drawn thinking...
#CHENNAIPETRO
Had a Bigger Shakeout a few days back and an Undercut. This might trigger an Urgency in moving the price.
Market Environment is important, Let's see if it allows a trigger.
#StocksInFocus #StocksToWatch
Hi everyone as it can be seen in the picture. Chennai petrol is trying to form a vcp ( volatility contraction pattern). Traders can aim for 900+ levels with a stop loss of 866 as shown in the image.
REMAIN CAUTIOUS, RSI bearish divergence, Stock in Distribution phase. Similar to June 2022 structure.
GOI has started revising windfall taxes upwardly due to recent higher crude oil prices.
SL only if crude oil starts falling sharply.
SL If stock prices start moving above Rs1100.
Disclaimer : Above scenario just for educational purpose and study of graphical...
NSE:CHENNPETRO
✅ #CHENNPETRO trading above Resistance of 866
✅ Next Resistance is at 1090
Related charts:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and...
#CHENNPETRO
CMP ₹: 720.8
Date : 07-01-2024
Chennai Petroleum Corporation Limited is an India based petroleum refining company. It's an undervalued and cheap stock . Now trading in its 52 week high level with improving fundamentals. A zero promoter pledge company with reducing debt.ROA , ROE & RoCE improving for the last 2 years.Profit margin also improving YoY....
CHENNPETRO consolidating after a big rally, and the stock is in a strong up trend ( stage 2) now the range of the price ( narrow range candles) is tight and volume dried, and today price range expands with increased volume. follow-through range expansion happens it will be a potential short-term swing trading opportunity.
DISCLAIMER: All ideas, opinions, and/or...
Chennai Petroleum Corporation Limited (CPCL) is a company, which offers high speed diesel (HSD) and motor spirit (MS). The Company operates in the downstream petroleum sector.
TTM EPS: 116.21
TTM PE: 4.12
P/B: 2.39
Mkt Cap (Rs. Cr.): 7,126
Dividend Yield: 5.64
Sector PE: 30.01
Book Value Per Share: 200.57
Some Positives:
Strong Momentum: Price above short,...
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...
NSE:CHENNPETRO
✅ #CHENNPETRO trading above Resistance of 680
✅ Next Resistance is at 866
Related charts:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational...
There's a strong possibility Chennai petroleum could hit ( 515 within 19th - 26th June 2023 )
Disclaimer:
It's a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1%-2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Please note that, if there are some big targets, those are drawn thinking...
Chennai petro looks very good for investment tar 750-1000
Cmp 510, buy dips till 440 (if it comes😀)
Sl 425 monthly closing basis
20 year rectangular price breakout
10 yr rsi breakout.
Let's fly ✈️✈️✈️
