Stocks to Watch For Today From CapitalHeight

Stocks to Watch For Monday : Chennai Petroleum Corporation Limited 

CapitalHeightChennai Petroleum Corporation Limited has forming spinning bottom candle stick pattern stock has gave indication of reversal with higher volume. Stochastic is indicating crossover from lower side to upside. According to Fibonacci retracement level stock may retrace till 50% and 61.8% and the levels may be seen till 247 and 259 and has strong support of 195 level on daily charts and expected to rise up side. Volumes also increased on daily charts, indicating that bulls will take charges upcoming trading days.

Technical indicators also supporting the bullish trend, stochastic are giving buying crossovers. The stock price has been sustaining above 50 day’s EMA on the daily charts. Traders can take long positions in CHENN PETRO in the range 215 for the targets of 230/247 with a stop loss below 195.

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