Investors with a short-term perspective can consider selling the stock of Chennai Petroleum Corporation at current levels. The stock tumbled 5.8 per cent accompanied by above-average volume breaking below a key support level of Rs. 257 on Monday. Since encountering a key resistance at Rs. 477 in November 2017, the stock has been in an intermediate-term downtrend. Moreover, medium- and short-term trends are also down for the stock.
