The stock of Chennai Petroleum Corporation has been rallying since March 2025 after it found support at ₹450. But after facing resistance at ₹1,050 in November, the price dropped. Three weeks back, it rebounded from ₹780 and formed a higher low. The price action shows that the trend is shifting to upside and the stock is likely to produce more gains from the current level. This time, it can break out of the resistance at ₹1,050 and extend the upswing to ₹1,150.
Video Credit: Businessline
Therefore, traders can buy the stock now at ₹905 and accumulate at ₹835. Place stop-loss at ₹750. When the price hits ₹1,000, trail the stop-loss to ₹925. On a rally to ₹1,080, tighten the stop-loss further to ₹1,000. Book profits at ₹1,150.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Published on February 9, 2026
