CHENNPETRO trade ideas
Chennai Petroleum - Bullish BreakoutNote: This is for educational purpose only.
There seems to be a bullish breakout with volume. The breakout is crossed the high supply zone which caused a gap down. RSI above 65 indicates bullish momentum.
SL: 103₹
CHENNAI PETRO - CUP WITH HANDLE - 1DChennai petro forming cup with handle pattern on daily chart. One can buy@cmp OR above 116 with SL 87.90 for target of 165.
Breakout ExpectedBuy level 75-77.
SL around 70, Target as per Fibonacci shown in chart.
NOT an investment/trade recommendation... Do your own study and risk mgmt.
CHENNPETROCHENNPETRO CMP 104.45 facing small resistance around 108 once it break stock will reach 120-140-160 levels with the support of 95 If not Break 108 might be correct 95-85 levels also good level to buy.
#CHENNPETRO - Systematick DailyLooks like the stock has bottomed around 50 and bouncing up with volume since May 2020.
Good buy around 75-77 range.
SL 60
TGT 90 & 150+
Safe traders can wait for box break out.
Long term pick. Trail your SL.
Buy at 58.5Buy at 58.5. For those who already have it in portfolio. It will give an opportunity to exit at below levels.
T1 = 105
T2 = 120
T3 = 135
Might test patience.
#chennpetroI am not SEBI registered analyst, plz do your own Analysis before trade I just published my Idea
ChennaiPetro | Short | Target 80 , SL:90#CHENNAIPETRO #TF_1D #Flag #Penant #Wpattern
Q1 Results : posts lesser growth. Chances are it will trade towards the lower trendline which gives us a chance to short with a target of 81-80.
SL : 90
Please note this is my view. Request you to consult your financial advisor before investing.
Should we initiate coverage ????The stock had shown great volumes yesterday, with the current bullish scenario i Think this stock can return decent returns in near future. Postional 5/15 days call. Lets see
STOCK IS NOT FOR TRADING....ONLY INVESTMENT PURPOSE.
multibagger ?accumulate stocks with whatever small profits you have for intraday, with low input costs the stock can give a good return in time
CHENNAI PETRO Today Chennai petro have given breakout from his trend line resistance after made his support@68. So buy this stock@72 expected tgt@85 for tomorrow with SL@67
intraday tradelogic
1) stock is looking oversold
2) flag formation in 15 min
3) daily volatility is high today if moves in our favor we can get a good risk to reward
