CHENNAI PETRO CP NSE:​CHENNPETRO

WILL FILL GAP

Based on my xMRSI-Progresser predictive trading methodologies, its going to be a GREEN candle on 22-Oct-2018 for CHENNPETRO Buy Above(5Min candle close): 265.9 for targets - T1: 267.9 T2: 269.1 T3: 270.3 SL: 263.8 Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and ...

Long ChennaiPetro

LET SEE WHAT HAPPENS !!

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LEVELS MENTIONED ON THE CHART

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levels on chart

CHENNAIPETRO gapped down on 14 August, waiting for gap to fill

Chennai petroleum Corporation was gap down on 14 August 18 Gap Will be getting filled later

Initiate a Long trade on , from 303.5, SL @ 300.4, Targets (1) 307, (2) 311, (3) 315, (4) 319, (5) 321, (6) 325,(7) 326. After completion of 1st target, revise stop to cost

Short ChennaiPetro

Enter Long above 311 Target 315 & 319 Sl 305

POSSIBLE SHORT POSITION 1)RSI DIVERGENCE 2)CROSS 20,50 EMA 3)BREAKS TREND LINE WITH VOLUME 4)BROKE RISING WEDGE PATTERN 5)BREAK BELOW RESISTANCE LEVEL

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Sell below 'Rs. 340'. Weak support at 'Rs. 340'. Price action also suggest prior resistance at 'Rs 345'

CHENNPETRO can be shorted near 350 with an stop loss of 360 for the target of 316

Time-frame: Daily Price broke out of EMA 50 and also crossed last swing high of the down trend. After breaking out price is in pullback mode which formed long tailed pin bar. By looking at the pin it is seen that price is taking support on EMA 50. MACD also confirms up trend as it has crossed zero line. Looks like it is end of down trend.