On the weekly timeframe, Chennpetro is making a Cup & Handle Pattern. The stock has gone into correction from April 2024. it made a nice rounding bottom from july 2024 to nov 2025 (CUP) and a Handle from nov 2025 to april 2026
In a sense, Chennpetro is in the formation for 2 years and it has finally showing the signs of breaking out the price zone. Only thing missing is volumes. The price breakout along with volumes will be a god sign going forward.
The price objectives can be 1600. with support of everything price can also reach 2700 in longer term.
Disclaimer: This analysis is for educational purposes only and does not constitute any investment advice. Im not a sebi registered analyst