CHENNPETRO - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 4.4
| Stock Code | CHENNPETRO | Market Cap | 15,687 Cr. | Current Price | 1,053 ₹ | High / Low | 1,160 ₹ |
| Stock P/E | 5.12 | Book Value | 725 ₹ | Dividend Yield | 0.76 % | ROCE | 35.6 % |
| ROE | 32.7 % | Face Value | 10.0 ₹ | DMA 50 | 1,011 ₹ | DMA 200 | 901 ₹ |
| Chg in FII Hold | -0.28 % | Chg in DII Hold | 1.09 % | PAT Qtr | 1,400 Cr. | PAT Prev Qtr | 987 Cr. |
| RSI | 54.9 | MACD | -0.46 | Volume | 13,05,839 | Avg Vol 1Wk | 6,51,497 |
| Low price | 603 ₹ | High price | 1,160 ₹ | PEG Ratio | -1.10 | Debt to equity | 0.18 |
| 52w Index | 80.9 % | Qtr Profit Var | 211 % | EPS | 206 ₹ | Industry PE | 14.6 |
📊 Chart Patterns & Trend: CHENNPETRO is trending upward after a strong rally from its 603 ₹ low. Current price (1,053 ₹) is above both 50 DMA (1,011 ₹) and 200 DMA (901 ₹), confirming bullish alignment. Resistance lies near 1,080–1,100 ₹, with major resistance at 1,160 ₹. Support is seen around 1,020–1,030 ₹. Trendlines suggest continuation of the uptrend with strong momentum.
📈 Moving Averages: Price above both 50 DMA and 200 DMA indicates strong bullish momentum.
📉 RSI: At 54.9, RSI is neutral to bullish, leaving room for further upside.
📉 MACD: Slightly negative (-0.46), signaling short-term consolidation despite overall bullish structure.
📊 Bollinger Bands: Price is near the upper band, suggesting strong buying pressure but potential short-term pullback.
📊 Volume Trends: Current volume (13,05,839) is significantly above the 1-week average (6,51,497), showing strong participation supporting the rally.
💡 Momentum Signals: Bullish bias with short-term consolidation. A breakout above 1,080–1,100 ₹ could trigger upside toward 1,160 ₹, while support lies near 1,020–1,030 ₹.
🎯 Entry Zone: 1,020–1,030 ₹ (support region).
🎯 Exit Zone: 1,080–1,100 ₹ (resistance region; extended target 1,160 ₹).
📌 Status: Trending upward with bullish bias.
Positive
✔ EPS of 206 ₹ supports strong valuation.
✔ ROCE (35.6%) and ROE (32.7%) reflect excellent efficiency.
✔ Debt-to-equity ratio of 0.18 indicates low leverage.
✔ Quarterly PAT growth (1,400 Cr. vs 987 Cr.) highlights strong earnings momentum.
✔ DII holdings increased (+1.09%), showing domestic institutional confidence.
Limitation
⚠ PEG ratio (-1.10) indicates weak growth valuation metrics.
⚠ FII holdings decreased (-0.28%), showing reduced foreign investor confidence.
⚠ Dividend yield modest at 0.76%.
⚠ MACD slightly negative, suggesting short-term consolidation.
Company Negative News
⚠ Reduced foreign institutional confidence with FII holdings down.
⚠ PEG ratio signals poor growth valuation metrics despite strong earnings.
Company Positive News
✔ Quarterly PAT surged significantly (+211% variance).
✔ DII holdings increased, showing domestic institutional support.
✔ Strong efficiency metrics (ROCE, ROE) reinforce operational strength.
Industry
🏭 Oil refining and petrochemical sector benefits from rising demand and favorable commodity cycles.
📈 Industry PE (14.6) higher than CHENNPETRO’s PE (5.12), suggesting undervaluation relative to peers.
Conclusion
📌 CHENNPETRO is trending upward with strong bullish momentum, supported by fundamentals and technicals. Entry near 1,020–1,030 ₹ offers favorable risk-reward, while exits near 1,080–1,100 ₹ are prudent unless momentum drives a breakout toward 1,160 ₹. Long-term investors may hold for undervaluation and efficiency metrics, while traders should monitor MACD and institutional flows for sustained momentum.
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