Chennai Petroleum Corporation Limited is in the business of refining crude oil to produce & supply various petroleum products and manufacture and sale of lubricating oil additives.
Company has reduced debt.
Stock is trading at 0.92 times its book value
Company is expected to give good quarter
Company has delivered good profit growth of 31.1% CAGR over last 5...
TARGET AND SL IN CHART
BREAKOUT OBSERVED AFTER 300 + WEEKS CONSOLIDATION
FUNDAMENTALS
Market Cap
₹ 7,126 Cr.
Current Price
₹ 479
52 W High / Low
₹ 492 / 186
Stock P/E
4.14
Book Value
₹ 422
Dividend Yield
5.64 %
ROCE
45.5 %
ROE
70.2 %
Face Value
₹ 10.0
Promoter holding
67.3 %
EPS last year
₹ 237
EPS latest quarter
₹ 36.8
Debt
₹ 3,760...
There's a bull flag formation in the D timeframe and it's around a solid round number, and previous days candles seems to broke the downtrend, plus previous day it broke the 9 and 20 ema's after opening. So watch out for it.
Channaipetro is multy year breakout it's fresh breakout this week from 2008 to 2023 it is long time consolidation buy this stock for one or two year for agressive Target
1.50 moving average upside
2.volume increase.
These are swing idea's which you can add your watchlist and analysis for yourself.
Keep on radar.
Potential upside stock!
This content for only education purpose!
I am not SEBI Register.
NSE:CHENNPETRO BSE:CHENNPETRO
Time Frame – Weekly
Observations : -
* Big Consolidation & range formation of 15 years + breakout done
* We can say flat pattern breakout also
* Closed above 15 + years high & 2022 high
* Monthly closed will is pending for more confirmation of this breakout
Resistance – 562 / 712 / 885
Support – 420 - 375 zone & next...
Stock Clearly show change trend bullish to bearish
Price break 20 & 50 DEMA.
MACD also show bearish crossover
Don't long as now
Exit position if you long position.
Disclaimer this is my personal view for education purpose only.
as we can see the price was falling in an bearish channel and we have a bullish divergence on MACD which is showing the price reversal,
i see this stock as an undervalued stock as 100RS is a very cheap price for a petroleum company and we can see as the oil price is rising even the stock of the fuel companies will rise consequently,
with Current Ratio of 0.5863...
i) it's making a cup and handle pattern
ii) Latest Quarter EPS better than the previous quarter
iii) FII and DII increased the stake
iv) upcoming dividend 27 rs.
Chennai Petroleum Corporation Limited - Falling trendline - breakout seen in the prices along with breakout in RSI. volumes, a bull sash candle, closed above EMA 61, all these are seen in the daily time frame, indicating a further up move in prices. Prices can move up at least up to 240 and above that, they can rally to 250 -275. Can be bought if the price...
In the Weekly Chart of CHENNPETRO ,
we can see that, it has given Cup & Handle Chart Pattern breakout.
it can fail coz it has moved in one One direction.
Chennai Petro - Long
Investment Trade - Long Term ( year+ )
- Analysis done is weekly time frame
- Strict SL given
- Keep averaging as near as SL
- Book your 50% profit on target ( green zone ) 25% at 700 last 25% at 900
