Initiate a Long Trade on ChennPetroInitiate 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
Chennai Petroleum Corporation Limited
No trades
Trade ideas
CHENNAI PETRO LOOKING BEARISH !!!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
short on chenn petroSell below 'Rs. 340'. Weak support at 'Rs. 340'. Price action also suggest prior resistance at 'Rs 345'
Short setup in CHENNPETROCHENNPETRO can be shorted near 350 with an stop loss of 360 for the target of 316
CHENNPETRO for Swing TradingTime-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.
Sell on Reversal , Trend ContiunationThis scrip is making a Running Flat on smaller structure , if you notice Market always makes repeated pattern , one has to identify it in time to take best possible trade
Look for sell set up and take short selling on reversal confirmation
run the trade on trailing stop , this one would be not so impulsive how it came down form top , but would give you enough room to make profits and trail the stop
My PredictiveEngine's Intraday call(11-Jun-18)-CHENNPETRO-LongBased on my PredictiveSystem's signals, its going to be a GREEN candle on 11-Jun-2018 for CHENNPETRO
Buy Above: 303.5 for targets -
T1: 305.8
T2: 307.1
T3: 308.6
SL: 301.1
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 please do your own research before attempting any. The profit/loss made by you due to this call, is solely your own responsibility. Thanks, All the best. Happy Trading. :-)
CHENNAIPETRO#CHENNAIPETRO support at level 275-277 closing basis and now stock can move toward upside from current level.
Short term - Swing trading: ChennPetroSell below 255, for targets - 220 - 200 with SL of 280
Buy above 275 for targets 300 - 310 with SL of 255.
Refer chart for more details.
Broadening Wedge/ Morning Star Good RR TradeMorning star candlestick reversal pattern at the lower line of Broadening wedge is giving earlier sign of reversal of this down trending stock. RSI also coming back from the extreme oversold zone telling the buy, moreover the trade is available at small risk of one bar stop loss so one try his luck as under
Entry 276
SL 262
Target 311
RR Ratio 2.50
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
Broadening Wedge Stock has been moving in the Broadening Wedge boundaries making nice alternate touch. It has bounced from the lower boundary and retested it again today. RSI coming out of overbought zone. Ideally any closing above 309 should trigger a long trade however aggressive trader can buy the stock now for a target of 335.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
LONG CHENNPETROI hope you can now see how CHENNPETRO CHART Pattern represents an excellent low risk profit entry setup allowing you to trade. Hence the low risk profit entry setup. You will also have seen with the correct price you can determine your entry and exit with high levels of accuracy ensuring the risk/reward is always in your favour..
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Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these CHART will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these CHART are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. Unlock Financial has no responsibility for your trading results. There is a high degree of risk in trading.
