Chennai petroleum

                                                                    Chennai petro daily chart

Stock of Chennai petro was in the down trend making sloping channel from which it broke out in the month of Novemenr 13 (as seen in the chart). It then moved sideways making horizontal channel and broke out yesterday with heavy volume. Stock is also trading above its all key moving averages. It can be bought at CMP with price target of 85.
Stop loss below 66 recommended.
CMP- 73.3 (as of 4/23/14)

Essar oil

                                                                   weekly chart

Stock of Essar oil has given a break out from the falling wedge pattern. The current uptrend is likely to continue and we may see levels of 80 in the short to medium term. It can be bought at CMP (61) with target of 80 and stop loss at 53.

Cairn India

                                                                 Cairn India

Cairn India has given a break out as shown in the chart. Stock may continue its uptrend in coming days touching the level of 390 in the short term.
CMP - 358
Stop loss at 345 recommended.