CHENNPETRO trade ideas
Chennai Petro ready to fuel your pockets. !!! Possible trade !!Given a good breakout and also formed a base near 104-105 levels. A pullback is surely a buy.
with sl of 104 on clbs
with the levels of 175/200+ soon
BTST IN CHENNAI PETRO MAY (FUT)BTST IN CHENNAI PETRO
MAY FUT
BUY@243.5
STOP@240.5
TARGET@248.5
LOT:1800
QTY:1
chennipetro view for short BUY ABOVE 253
ST-252
t1- 256.30
t2-258
strong support level here if not break this level
CHENNAI PETRO CP -27 points fall expected (12%)-27 points fall expected (12%) in CHENNAI PETRO within 15 trading days
Trade with your own risk
Chennai Petro : Contra PlayChennai Petro is falling knife for traders who want to make out of minor reversal in the trend. Minor bounce can happen till 217-218 but actual buying should emerge around 180 & 165 level for Mean Reversion play. Stochastic is already in oversold zone which indicates a bounce is likely to take place in next couple of sessions. Trader should wait for low of parallel channel to go for Short term buying. 160 should be the SL on closing basis. Reversal towards 10 & 20 days EMA should be the target for such kind of position.
