Posted On: August 10, 2023

Stock Report: TNPETRO (NSE) 09 Aug 2023 

Outlook: BEARISH

Sector: Basic Materials       

Industry: Specialty Chemicalsa 

Tamil Nadu Petro-products Limited is an Indian company established on 22 June 1984, with its headquarters located in Chennai. The company is primarily focused on the production and distribution of commodity chemicals, which serve as essential raw materials across various industries. These industries encompass the manufacturing of detergents and cleaning agents, lubricants, epoxy resins, pharmaceuticals, and textiles. With a workforce of 419 employees as of 2022, the company plays a pivotal role in supplying vital components to produce diverse products. Additionally, it operates subsidiaries such as Gulf Petroproduct Company Etc., further contributing to its presence in the chemical manufacturing sector.

#xCalData predicts that #TNPETRO will continue its bearish phase over the next five days and trend within the range of 83 to 78.   

In comparison to the previous month, the price of the stock has experienced a decline of 2.09% indicating a bearish.

The Stock has doubled thrice since 07 Sep 2015 and took an average of 2.1 years to double.

The stock has not shown seasonality trend in the past. 

Reviewing the returns for the past 5 years for the same week, we see the stock has given negative returns in 3 years in the past. 

Majority of the technical ratios trend towards Bearish side of the spectrum. Some of the technical indicator namely MACD, RVI indicates Bullish view. 

Collectively, xCalData suggests the stock would be in Bearish zone for next 5 days. 

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