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CHENNAI PETROLEUM Technical analysis


CHENNAI PETROLEUM




  • Stock facing strong trend line support @ 83, chart indicates further price fall can be seen once stock closes and starts trading below 83.
  • Stock also facing 200 DMA support at current levels, if starts trading below 200 DMA then stock will be favored by bears.
  • As per weekly chart, stock will find support @ 83 its 50% fibonacci retracement support zone, below 83 further weakness can be seen.
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What is Intraday Tips ?

Q. What is Intraday Tips / Inraday Trading / Delivery trading.

A. There are basically two types of trading on stock market--
1- Delivery
2- Intraday

Delivery trading is one in which shares are bought and can only be sold after they are delivered by the broker.that means that they cannot be sold the same day , and delivery takes two to three days after they are bought and then they are ready to be sold.

Intraday trading which takes place for that very particular day and there is no delivery..they can be bought and sold the same day...and are automatically sold at the end of the trading session if you have not sold it by yourself during the trading session. The person who suggest such types of forecast is called

Intraday Tips

.