Stock Recommendation : Buy Mangalore Refinery and Chennai Petroleum Corporation Ltd by Jainam Share Consultants
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Mangalore Refinery and Petrochemicals Limited
Buy Mangalore Refinery and Petrochemicals Limited CMP 207.00 Buy Price 179.10 Target 1290.00 Stop loss 930.00 Holding Periond 3 Month
* The stock price trading at Rs. 207.00 on 7th March ,2026.
* Currently the stock has given bullish chart pattern formation which resemble as Cup & Handle pattern breakout on weekly chart.
* At this point, the price is trading above 50 WEMA, which indicates a continuation of bullish momentum. Additionally, the momentum indicator RSI is also Bullish zone trading above 60 level, suggesting strengthening positive sentiment in the stock.
* We expect the stock price to continue its current bullish momentum and head towards 250-257 levels considering the current price action.
Chennai Petroleum Corporation Ltd
Buy Chennai Petroleum Corporation Ltd CMP 1008.00 Buy Price 179.10 Target 257.00 Stop loss 182.00 Holding Periond 3 Month
* The stock price trading at Rs. 1008.00 on 7th March ,2026.
* The stock is forming a bullish Cup & Handle pattern, with the breakout still pending above the key resistance level.
* At this point, the price is trading above 50 WEMA, which indicates a continuation of bullish momentum. Additionally, the momentum indicator RSI is also Bullish zone trading above 60 level, suggesting strengthening positive sentiment in the stock.
* We expect the stock price to continue its current bullish momentum and head towards 1290 levels considering the current price action.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
