Stock analysis Chennai Petroleum Corporation Limited CHENNPETRO

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Moving Averages for Chennai Petroleum Corporation Limited

5Day Average: 1053.26
12Day Average: 978.53
20Day Average: 959.41
50Day Average: 924.39
100Day Average: 849.59
150Day Average: 754.99
200Day Average: 671.64

CHENNPETRO Indicators & signals

Indicator MACD (12,26,9)

994.49, 957.04, 26.31
Indicator MACD is in positive zone

Indicator ADX (14)

27.64, 26.36, 14.94
Indicator ADX is indicating that momentum is weak.
Indicator ADX is showing that momentum is towards buying

Indicator RSI (14)

Current RSI is: 59
Indicator RSI is indicating buying momentum and stock might rise.

Recent prices of CHENNPETRO Chennai Petroleum Corporation Limited are as follows: Daily volume is divided by 10 day averaged volume

Date	Close	Range	Change %	Volume
30 Tue Apr 2024	1022.85	1015.05 to 1055.75	-1.71%	0.29 times
29 Mon Apr 2024	1040.60	1032.05 to 1066.90	-1.05%	0.34 times
26 Fri Apr 2024	1051.65	1047.00 to 1122.50	-2.28%	1.26 times
25 Thu Apr 2024	1076.20	1056.00 to 1097.90	0.11%	1.26 times
24 Wed Apr 2024	1075.00	915.10 to 1098.65	15.82%	4.98 times
23 Tue Apr 2024	928.20	925.00 to 950.70	-1.39%	0.16 times
22 Mon Apr 2024	941.25	936.10 to 964.85	-0.12%	0.2 times
19 Fri Apr 2024	942.35	900.20 to 961.95	1.27%	0.41 times
18 Thu Apr 2024	930.55	920.00 to 965.00	2.08%	0.52 times
16 Tue Apr 2024	911.55	906.00 to 937.10	-1.6%	0.34 times
15 Mon Apr 2024	926.35	862.20 to 941.00	3.41%	0.54 times
12 Fri Apr 2024	895.80	885.30 to 929.30	-1.02%	0.31 times

Technical analysis forecast of Chennai Petroleum Corporation Limited Stock is that its in a uptrend for shortterm, and I will avoid taking a SHORT or SELL trade in this stock. Look for opportunities to BUY or go LONG in Chennai Petroleum Corporation Limited CHENNPETRO at this time. Stock is rising and might rise more.

It appears as if Chennai Petroleum Corporation Limited CHENNPETRO gave a large move recently.

Stock of Chennai Petroleum Corporation Limited (CHENNPETRO) is trading above an important moving average line, and it has been above this line for quite some time now. This is a good sign, and the stock might keep rising and move higher!

My analysis of Chennai Petroleum Corporation Limited is bullish for shortterm, but stock is in semi over bought zones and there are some chances of seeing a fall tomorrow. Use 1026.6 as stoploss in an intra day sell trade for a target of 969.68. However, stock will show a bullish move above 1026.6.

More indepth analysis on MunafaSutra.com