CHENNPETRO - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 3.8
| Stock Code | CHENNPETRO | Market Cap | 15,106 Cr. | Current Price | 1,015 ₹ | High / Low | 1,103 ₹ |
| Stock P/E | 7.16 | Book Value | 574 ₹ | Dividend Yield | 0.49 % | ROCE | 4.04 % |
| ROE | 2.10 % | Face Value | 10.0 ₹ | DMA 50 | 916 ₹ | DMA 200 | 830 ₹ |
| Chg in FII Hold | 4.07 % | Chg in DII Hold | -1.58 % | PAT Qtr | 987 Cr. | PAT Prev Qtr | 732 Cr. |
| RSI | 59.1 | MACD | 28.8 | Volume | 33,42,524 | Avg Vol 1Wk | 51,07,626 |
| Low price | 516 ₹ | High price | 1,103 ₹ | PEG Ratio | -0.14 | Debt to equity | 0.23 |
| 52w Index | 84.9 % | Qtr Profit Var | 9,338 % | EPS | 142 ₹ | Industry PE | 13.7 |
📈 Chart & Trend: CHENNPETRO is trading at ₹1,015, above both its 50 DMA (₹916) and 200 DMA (₹830). This indicates strong short-term and medium-term bullish momentum, with the stock trending upward.
📊 Momentum Indicators:
- RSI at 59.1 suggests moderately strong momentum, close to overbought but still healthy.
- MACD at 28.8 shows bullish crossover, confirming upward momentum.
- Bollinger Bands: Price near upper band, indicating strong buying pressure.
- Volume: Current volume (33.4 lakh) is lower than 1-week average (51.1 lakh), showing reduced participation despite price strength.
🔑 Support & Resistance:
- Support zone: ₹980–₹1,000
- Resistance zone: ₹1,080–₹1,100 (recent highs)
- Breakout resistance: ₹1,120–₹1,130
- Long-term support: ₹830
📌 Entry & Exit Zones:
- Entry: ₹980–₹1,015 (near support and current price)
- Exit: ₹1,080–₹1,120 (resistance zone)
- Stop-loss: ₹960
📉 Trend Status: Trending upward with strong bullish bias. Needs sustained volume above ₹1,080 to confirm breakout continuation.
Positive
- EPS of ₹142 with P/E of 7.16 indicates undervaluation compared to industry.
- Quarterly PAT growth (₹987 Cr vs ₹732 Cr) shows strong profitability momentum.
- FII holdings increased by 4.07%, signaling strong foreign investor confidence.
- Stock trading well above both 50 DMA and 200 DMA confirms bullish trend.
Limitation
- ROCE at 4.04% and ROE at 2.10% are weak compared to industry standards.
- Volume participation is lower than average, reducing conviction in the rally.
- DII holdings decreased by 1.58%, showing reduced domestic support.
- PEG ratio of -0.14 suggests valuation concerns relative to growth consistency.
Company Negative News
- No major recent negative news reported, but weak ROCE/ROE and declining DII holdings are concerns.
Company Positive News
- Massive quarterly profit growth supports earnings momentum.
- Strong FII inflows highlight foreign confidence in the company.
Industry
- Industry PE at 13.7 vs stock PE at 7.16 shows CHENNPETRO trades at a discount.
- Petrochemical sector supported by global demand recovery, though margin volatility remains a risk.
Conclusion
⚡ CHENNPETRO is trending upward with strong bullish signals, trading above key moving averages. Entry near ₹980–₹1,015 offers margin of safety, with exit targets around ₹1,080–₹1,120. Strong earnings growth and FII inflows support medium-term prospects, but weak ROCE/ROE and reduced domestic participation remain key risks.
Would you like me to extend this into a peer benchmarking overlay comparing CHENNPETRO with other refiners (like MRPL, HPCL, and BPCL) to highlight relative strength, valuation gaps, and sector rotation opportunities?