CPCL Made RSI Bullish Divergence From a Key Level

CHENNPETRO today made a good upmove with good volumes from previous key breakout levels in Sep 2023 with RSI Bullish Divergence on Daily Charts on Back of UKOIL going below 70 Dollars.

About:
CHENNPETRO is in the business of refining crude oil to produce & supply various petroleum products and manufacture and sale of lubricating oil additives.

Trade Setup:
Could be a good 1:2.7 Risk Reward Trade Can give pullback up to 200 DSMA

Target(Take Profit):
Around 781 Levels or Falling 200 DSMA for Positional Trader.

Stop Loss:
Entry Candle Low for Swing Trader and Marked Levels for Positional Trader.

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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes only and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.