CHENNPETRO trade ideas
Chennai petro cup & handle formation1. Cup and handle formation
2. Bullish engulfing pattern
3. 20&50 EMA crossover
4. Rising volumes
5. Supertrend buy signal
This shall definitely fly
Only for educational purpose
Another Break Out in the works? Keep Tracking - POSITION TRADEVoulme increase happening slowly. It's steady . A sudden Jump can happen. Keep a close watch at 116
Chennai Petroleum - Bullish BreakoutNote: This is for educational purpose only.
There seems to be a bullish breakout with volume. The breakout is crossed the high supply zone which caused a gap down. RSI above 65 indicates bullish momentum.
SL: 103₹
CHENNAI PETRO - CUP WITH HANDLE - 1DChennai petro forming cup with handle pattern on daily chart. One can buy@cmp OR above 116 with SL 87.90 for target of 165.
Breakout ExpectedBuy level 75-77.
SL around 70, Target as per Fibonacci shown in chart.
NOT an investment/trade recommendation... Do your own study and risk mgmt.
CHENNPETROCHENNPETRO CMP 104.45 facing small resistance around 108 once it break stock will reach 120-140-160 levels with the support of 95 If not Break 108 might be correct 95-85 levels also good level to buy.
#CHENNPETRO - Systematick DailyLooks like the stock has bottomed around 50 and bouncing up with volume since May 2020.
Good buy around 75-77 range.
SL 60
TGT 90 & 150+
Safe traders can wait for box break out.
Long term pick. Trail your SL.
Buy at 58.5Buy at 58.5. For those who already have it in portfolio. It will give an opportunity to exit at below levels.
T1 = 105
T2 = 120
T3 = 135
Might test patience.
#chennpetroI am not SEBI registered analyst, plz do your own Analysis before trade I just published my Idea
ChennaiPetro | Short | Target 80 , SL:90#CHENNAIPETRO #TF_1D #Flag #Penant #Wpattern
Q1 Results : posts lesser growth. Chances are it will trade towards the lower trendline which gives us a chance to short with a target of 81-80.
SL : 90
Please note this is my view. Request you to consult your financial advisor before investing.
