Chennai petro looks very good for investment tar 750-1000
Cmp 510, buy dips till 440 (if it comes😀)
Sl 425 monthly closing basis
20 year rectangular price breakout
10 yr rsi breakout.
Let's fly ✈️✈️✈️
CHENNPETRO is breaking out of a massive 15 year resistance. High RSI. On daily after brief retest is again breaking swing low. Lets see if it will sustain levels and then can go higher.
With Diesel Cracks increasing back into bull market expect Chennai Petro to be a big beneficiary.
The only problem is if govt increases windfall taxes on export ofdiesel.
IF this trend continues the company will make a lot of money going ahead.
Long at Current prices with SL below 471.
NSE:CHENNPETRO
✅ #CHENNPETRO trading above Resistance of 502
✅ Next Resistance is at 680
Related charts:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose...
Hello Traders,
Sharing this weekly chart of Chennai Petroleum Corporation, there is almost a 15-year range from which a breakout is given by the stock, in the volume profile you can see the yellow volumes are decreasing as the stock is moving up which indicates strength that more buyers are there compared to sellers.
Fundamentally the stock has been doing good for...
Chennai Petro gives breakout after 15 years. stock has been consolidated in box for 15 years and now gives breakout with high volume. don't miss this golden opportunity. According to technical analysis stock have potential to double from here. Current Price = 478.55 Stop Loss = 437.
NSE:CHENNPETRO
In the Weekly Chart of CHENNPETRO ,
we can see that, after Cup & Handle breakout, it has come to retest the Trendline.
Let it retest the Trendline and form a Bullish candle and then enter with SL and Target.
The stock is testing it's all time high resistance (16 year old resistance) and if succeeds to close above 350 (preferably on weekly basis) can give good positional targets.
Learn & Earn,
Dr. Tanya Kumar
DISCLAIMER
Our video is intended only to provide general and preliminary information to traders/investor and shall not be considered as any investment decision. Do your own analysis, This is not a buy or sell tip. This is just for educational purpose only. And I'm not responsible for your Profit or loss as I'm not a SEBI registered financial advisor.
BUY - CHENNAI PETRO CP
CMP - Rs. 388
Target - 1: Rs. 500
Target - 2: Rs. 590
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Technicals - Cup and Handle Pattern
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This is just a view by an expert analyst, please invest at your own risk.
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