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CHENNAI PETROLEUM CORP LTDCHENNAI PETROLEUM CORP LTDCHENNAI PETROLEUM CORP LTD

CHENNAI PETROLEUM CORP LTD

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CHENNPETRO trade ideas

ChennaiPetro- Bang On Target -Here is the Bounce@292.40Thanks Deity- This all to you. A journey which, I will cherish my whole life till the time I survive on this planet. ChennaiPetro caught right at the top between 310-320 -Then a fall below 292 for 283 - Then a bounce from 283- 292- Then again a fall & makes new low@277- Expected a bounce from 277 to 292-293- Here we finally made day's high@292.40 - Clicking our sweet spot. Previous Updates Looking for a bounce292-293 Hatrick for Lasith Malinga Bang On Target -for bounce from 283-291 Aren't you part of this exciting Wave Right in the block hole reminds me Lasith Malinga Wedge pattern & Rising Trendline -Closer Look ChennaiPetro- Close to a top@310-320
NSE:CHENNPETROLong
by WaveTalks
2
ChennaiPetro- Hatrick for Lasith Malinga (Back to Back)Current Rate- 282 The sheer excitement only -one can't control once a bowler gets back 2 back three wickets in a row- worked well when I wrote that we should be cautious before exactly a day before its recent results were to be announced -it was suggested that there is wedge pattern-which was perfect in place & time to occur- once identified -Boom- You are bound to be surprised with so many gifts that places will fall short. It has travelled 161.8% in the (iii)-wave approx making a low@277.25 -which is very much clear objective for (iii)-waves Trading Strategy- We shall be looking for a bounce again in the zone 291-293 where it shall retrace 61.8% that is maximum retracement -I shall be looking for & an opportunity to go short again for lower targets below 277. Earlier Reports ChennaiPetro - close to top out in 310-320 Zone- Wedge Pattern Identified A closer look of wedge pattern Right in the block Hole Aren't you part of this exciting wave Bang on for the bounce from 283 to 291 Finally -The Hatrick which completes 161.8% of the initial fall (i)- wave projected from (ii)-wave -- (iii)-wave travels 161.8% which comes to 276.15 - It almost made close low@277.25
NSE:CHENNPETROShort
by WaveTalks
3
ChennaiPetro- Aren't you part of this Exciting Wave? Aren't you part of this exciting wave -going below 292 was a good trigger for going short & 10 points fall- makes current session low@282.30- Good Time to Book your profits & We shall look for a selling opportunity once we see petro rising to the zone 290-292 & getting rejected. It was exciting wave as we were corrrect in visualizing the wedge pattern -right at the top or in the block hole which reminds me of Srilankan Bowler -Lasith Malinga Book your profits in current zone 283-284 & look for a bounce back to break out zone of 290-292
NSE:CHENNPETRO
by WaveTalks
ChennaiPetro- Right in the block hole Reminds me Lasith MalingaEven before the results were out for Chennai Petro- I warned that there is a wedge pattern & possibly it looks to top out in a 310-320 zone. The fall exactly from the zone 310-320 as per previous updates - reminds me of Srilankan Bowler -Lasith Malinga- He is quite capable of upsetting best of the best batsmen across the globe- when he bowls those special deliveries or in cricketing term we call block hole deliveries- batsman hardly get any chance to maneuver the ball & he gets surprised by getting out leg before the wicket & sometimes clean bowled. Bearish Candle right at the top also gives the first clue that Petro could be topping out. Vow- Same Thing happening currently with Chennai Petro. Bang On- Centre stump is hit. Earlier Update (Closer look at the wedge pattern) Earlier Update (Larger Time Frame Chart)
NSE:CHENNPETROShort
by WaveTalks