CHENNPETRO – Technical View (Daily)

$CHENNPETRO Technical Observation: Stock has witnessed a strong breakout from the recent consolidation zone with robust price action and increased volume participation. Price is trading comfortably above the key support band of ₹1,135–₹1,150, indicating strength in the ongoing uptrend. RSI is near the overbought zone, reflecting strong bullish momentum. The stock has reclaimed major resistance levels and is forming higher highs and higher lows. Sustaining above ₹1,180 can extend the current rally towards higher resistance zones. Trade Setup (Swing): Buy Zone: ₹1,170 – ₹1,190 Target 1: ₹1,223 Target 2: ₹1,265 Target 3: ₹1,307 Stop Loss: ₹1,135 (Daily) View: The overall structure remains bullish after the recent breakout. As long as the stock holds above ₹1,135, buying interest is likely to continue, with potential upside towards ₹1,265–₹1,307 in the near term. Disclaimer: This is a technical observation for educational purposes only and should not be construed as investment advice.