NSE:CHENNPETRO
✅ #CHENNPETRO trading above Resistance of 434
✅ Next Resistance is at 502
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...
DON’T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Try to exit by taking 4-7% profit of each trade
- SL can also be maintained as closing below the low of the breakout candle
Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days...
NSE:CHENNPETRO
✅ #CHENNPETRO trading above Resistance of 380
✅ Next Resistance is at 434
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 only. This is not buying...
Stock near ATH, it has completed Expanding flat correction on Monthly scale.
Following third wave rally should be huge.
Had checked basic fundamentals looks attractive.
Invalidation level given is based on weekly close which is 20% lower and is quite big SL and risky.
Target 3x-6x based on fib extension 2.618-4.618
DISCLAIMER:
There is no...
Stock Name - Chennai Petroleum Corporation Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 278
#This is not Buy and Sell recommendation to any one. This...
Technical-
Double Bottom Base Structure
stock given breakout with volume pop up
Buy at pullback near 10 WMA
trading above 10 WMA looking good for mrntined target in chart buy near pullback
Industry Sector looking Strong
Concern-
Nifty is weak
DON’T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:00 pm every day
- Try to exit by taking 4-7% profit of each trade
- SL can also be maintained as closing below the low of the breakout candle
Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days...
CHENNPETRO:- Formed a rounding bottom and consolidating near the resistance, if the breakout together sustains above, we can see the stock going upside. keep in radar
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until...
Refineries sector is doing good from last couple of week. Seems Chennai petro is also getting ready to participate. Falling trendline breakout can be seen on daily time frame. Next major resistance is at 265-273 level and SL can be 220. Keep on radar.
Chennai Petro CP breaks out on 1D timeframe. It has given a Double Pattern breakout from Falling Wedge and Flag patterns. Target & Stop Loss are explained on Chart. Be wary of upcoming earnings. Do Trail your Stop Loss and follow proper Risk Management.
