Chennai Petroleum Corporation Limited - Multiyear Breakout
#CHENNPETRO
CMP ₹: 720.8
Date : 07-01-2024
Chennai Petroleum Corporation Limited is an India based petroleum refining company. It's an undervalued and cheap stock . Now trading in its 52 week high level with improving fundamentals. A zero promoter pledge company with reducing debt.ROA , ROE & RoCE improving for the last 2 years.Profit margin also improving YoY. Already given a breakout of its 16 years resistance trend line. Now moving through an upward parallel channel for last 3 months. FIIs are increasing stake in this undervalued hidden gem. 1000 to 2000 levels are not so stoploss below @ ₹. 675 levels.
Disclaimer : Post only for educational purpose. Not a buying / selling recommendation. This is only my personal view. I am not a SEBI registered analyst . Do your own analysis and act accordingly .
CMP ₹: 720.8
Date : 07-01-2024
Chennai Petroleum Corporation Limited is an India based petroleum refining company. It's an undervalued and cheap stock . Now trading in its 52 week high level with improving fundamentals. A zero promoter pledge company with reducing debt.ROA , ROE & RoCE improving for the last 2 years.Profit margin also improving YoY. Already given a breakout of its 16 years resistance trend line. Now moving through an upward parallel channel for last 3 months. FIIs are increasing stake in this undervalued hidden gem. 1000 to 2000 levels are not so stoploss below @ ₹. 675 levels.
Disclaimer : Post only for educational purpose. Not a buying / selling recommendation. This is only my personal view. I am not a SEBI registered analyst . Do your own analysis and act accordingly .
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