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Unite Technologies Financial

27th Feb · SEBI-Registered Analyst

Technical Analysis Chennai Petroleum Corporation Limited

The stock

CHENNPETRO
is shows a that has experienced a massive rollercoaster ride over the last two years. Currently, it is in a recovery phase attempting to reclaim its previous glory. The massive rally 2023 - Mid 2024 The stock saw an incredible uptrend moving from around ₹250 to a peak of nearly ₹1300. This was a period of strong higher highs and higher lows. The deep correction late 2024 - early 2025) after hitting its peak the stock crashed significantly losing almost 50% of its value and bottoming out near the ₹500 - ₹600 range. Current recovery 2025 - 2026 since mid-2025 the stock has been forming a Rounding Bottom or a slow recovery base. It is currently trading at ₹961.95 showing renewed buyer interest. Immediate resistance the ₹1100 level is a major hurdle. The stock recently tried to cross it but faced selling pressure. Recently support the ₹800 - ₹850 zone is now acting as a floor. As long as it stays above this the trend remains positive. Long-term support the major psychological bottom is at ₹600. For long-term investors the stock has recovered well from its lows. However it needs to break and hold above ₹1100 to confirm a fresh bull run toward its all-time high. For short-term traders the stock is in a Buy on Dips zone near ₹880-₹900. A stop-loss should be kept below ₹800. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.

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