The stock of Chennai Petroleum Corporation has been in an uptrend since March 2025. After hitting a one-year high of ₹1,159 last month, the price moderated. However, the broader bull trend remains positive and the price stays above both 21- and 50-day moving averages. Even if there is another downswing from the current level, it is unlikely to drag the stock below the crucial support at ₹950, where a trendline coincides. So, we expect the stock to resume the rally either from the current level or after another dip to ₹950.Video Credit: BusinesslineIn either case, the stock can rebound and appreciate to ₹1,300 over the medium-term. Buy now at ₹1,056 and accumulate at ₹970. Stop-loss can be ₹880. On a rally to ₹1,150 and ₹1,250, raise the stop-loss to ₹950 and ₹1,180 respectively. Exit at ₹1,300.(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)Click here to stay updated with today’s market live actionPublished on June 1, 2026