ChennaiPetro - Oct 3 Day Trade!Buy above 406 with the stoploss of 402. Targets are 410, 414 and 420. Sell below 402 with the stoploss of 406. Targets are 398, 393 and 389.
Chennai Petroleum Corporation Limited
No trades
Trade ideas
Pattern Series - 4 Rounding Bottom!Rounding bottom is a trend continuation pattern. And once the resistance is broken/pattern is complete, price action breaks out upside with out retracing.
Breakout above 427Small Cup and Handle pattern on daily chart. Stock have to close above 427 which will give full proof confirmation.Expecting target of 445 & 475 in medium term. One can keep SL of 399
Chennai PetroA good breakout on the line charts, what to watch out is whether current levels of 419 will sustain by close today to confirm break out! Trailing SL of 395
ChennaiPetro - Bull Flag!Buy above 393 with the stoploss of 390. Targets are 398, 401 and 405.Sell below 386 with the stoploss of 389. Targets are 382, 379 and 375. Trading rules.for "Vanathi Waves" 1. Enter trade after seeing price action for 15 mins. 2. If you are bullish wait for the price action to give entry for long. 3. If you are bearish , wait for the price action to give entry for short. 4. Dont enter trade if there is no clear buy/sell signal. 5. Enter when price action breaks 15 mins high/low.
Wait for a Moment ...CHENNAI PETROLEUM is currently on the Decider Zone ... 376 Rs. is A Firm Support for Now ... But By Breaking that , No Support till 346-360 Levels ... Have A Keen Watch on that and act According to that ...
Chennai PetroThe stock seems to have finally broken out and is looking towards higher levels, keeping a trailing SL of 380, can do well going ahead
Possible short selling set up I am looking this stock is on top of the trading , probably it will start for correction , move to up is very short lived , I am looking possible short selling set up ,
I do not want to be in the long side as it is very risky to be in the long side , its better to wait for short set up , i will sell short with reversal sign on 1 Hour Time frame
Regards
chennai petro with shivshort chennai petro between 379-380 sl 380.80 trg 377 375 and buy above 380.80 sl 379 trg 383 386 ....do own analisis and then only do trade this is stury perpose only.....
Chennai Petro Short for day trade I personally will be trading this stock tomorrow , I saw one have posted this as long but somehow failed to understand the direction , or May be failed to check the Weekly candle so posted as Long but the stock is heading for small correction , which I'm expressing here ,
I'm looking for short selling on small retrace around 361 with stop 363 for target of 355/352
lets see what happens tomorrow
Cheers
Smart Money Investor Path Defination Please see initial investment made by Smart or Intuitional Investor from 26.10.2016 to 15.11.2016 investor fully loaded their money in to stock , then stock rises , 1st sell off or profit taking is at 11.01.2017 , then investor keep selling or transferring his stocks to amateurs who thinks stock will move like rocket , Second sell off 13.02.2017 before exit , Final selloff at peak high on 22.02.2017
now stock is running with amateurs , investors have pulled their money with good profit
Please note this is for educational purpose only not for practice in the same manner
Hope people who are still learning will try to understand this in easy manner using
01) Chaikin Money Flow index ,02) Money Flow Index
please practice and do study from Investopedia about how the smart money enter the market and exit without being noticed by any one
ChennaiPetro - Long!Chennaipetro has formed 1. double bottom 2. falling wedge 3. Hidden bullish divergence.
Buy above 368 with the stoploss of 363. Targets are 373 and 376.
Chennaipetro - Forming triangleChennaipetro is forming a triangle and consolidating. Daily chart also shows triangle formation. Watch the price action. I will update the entry, stoploss and targets after seeing the price action.
Volume and the big game!I believe for every problem, there is a solution. This post is the follow up of "Chennai petro - running out of fuel". Big candle with huge volume indicates big players entered the game. If I am a big player, I wont enter a trade without 30 to 40 pts of profit. Big players entered at the price of 320 on Jan 4. And they exit at the price of 360 on Jan 24th. A good technical analyst is smarter than big players. He/she should have entered on 20th Jan at the price 330 and exit on Jan 24th at 355. Hence it is proved that TA is smarter tha big players!
Chennai Petro - Running out of fuelPrice action of Chennai Petro shows weakness by forming 1. Descending triangle 2. Less volume
3. RSI momentum. Will update target, stoploss, entry in comment seeing price action.
Chennai Petro: Pattern Similar To DishmanThere is a vacuum in this ellipse. Again the concept is similar to Dishman chart posted earlier today. Above 302, am expecting a quick spurt to 312+.
ChennaiPetro- Wonder of 307!Here also ChennaiPetro did not move above 307 as mentioned in previous update & had a fall till 302- how these levels work wonders -really can't be imagined.
Chennai Petro- Bang on for Kissing 297 Oh- Its Kissed 297 look & started the bounce. Last Traded at 300- These are the places where Risk is zero & Reward is unlimited as per previous accumulation wedge pattern.
Chennai Petro- An Accumulation Wedge at 296.90There is some counts change - as market proved me wrong this time.
Accumulation Wedge- A possibility, In this pattern price forms a resistance which it formed in 293.80 -comes back & again tries to take out the resistance which it did & formed a new resistance at 296.90 then falls back again in the pattern finally to take out with a large bull candle.
Trading Strategy- Prices should fall to 296.90 handle or close by & start bouncing -there could be long opportunity (obviously -you have put the recent swing low as stop trade), but as a trader -you have to keep a watch & let say if prices go below the 289.35 swing low then likely bears will come into action.
Previous Update - Channel was broken at 289 -went to 285-286 handle & bounced -so always a trader has to put cost stop loss so that he doesn't lose anything even if the trade washes him out.
Previous to Previous Updates- we travelled big distance from 312 to 277 bottoms & even got the bounce from 277 to 292.
