BSE See NSE See 35,962.93
0.00 (0.09%)

2018 CFO Special


CFOs' Top Priorities: Growth , Corporate Governance, Risk Management And Enhancing Market Share 

To read the entire article, you must be a DSIJ magazine subscriber.

Comments are only visible to subscribers.

DSIJ Mindshare

Chennai Petroleum reaches near trendline resistance

Vinayak Gangule / Article rating: 5.0

Chennai Petroleum Limited reached near its downward sloping trendline formed by connecting highs from January 2018, on the weekly time frame. This coincides by the stock's long-term moving average, i.e. 200-week exponential moving average, which is currently placed at 283.20 level. After registering its 52-week low, the stock is trading in a range for the last nine weeks along with low volumes, which indicates it is just a pull-back and the original downtrend is likely to resume soon.