BlogDaily Learnings04. Daily Charts

04. Daily Charts

Disclaimer

Mr. Chartist is solely dedicated to learning the financial market. Our objective is to improve financial literacy. Since we are practicing Technical Analysis on a personal level we will be providing chart-based study in our Daily Charts Blog for educational purposes only. User’s of this website are expected not to misread it directly or indirectly as any buy/sell recommendations. We are not SEBI Registered Investment Advisor & Research Analyst.

Please consider the Risk involved in equity markets. We do not take any responsibility for your profit or loss.​

Chart Source- Tradingview.com

01. Nifty-

Nifty daily chart finally able to cross the 17500 levels and now price moving upside with strong candlestick pattern, now Nifty may move towards the 17800 to 18000 levels in coming days and currently Nifty perfectly copying the Nifty IT chart and moving upside. 

Nifty daily chart perfectly moving upside according to the Pole and flag pattern and now if index not able to sustain above 17200/400 level we can see some major downside. 

02. Nifty Bank (NIFTYBANK)- 

Nifty Bank daily chart trading at Fresh all-time high and now price moving with strong candlestick pattern and this is also curve pattern breakout on chart. Nifty Bank’s daily chart may move towards the 38700-39500 levels in the coming days, stock has strong support near the 37000-37200 level on the chart. 

Nifty Bank daily chart if again fall below curve pattern, we can see more consolidation between the 36500 to 37500 levels according to chart. 

03. Bandhan Bank Ltd (BANDHANBNK)

Stock trading in the Descending Channel pattern and now price bounce from support and after consolidation price confirming us the reversal towards the next resistance level according to chart. The stock price may move towards the 310 to 322 levels in the coming days, with the help of the 285 resistance level on the chart. 

Bandhan Bank daily chart if not able to sustain above upside we can see more consolidation and downside inside the Descending Channel pattern. 

04.Canara Bank (CANBK)-

Canara Bank daily chart given breakout in Horizontal Resistance level with strong candlestick and price, now if the price break the 170 level and above this we can see some major upside towards the 185-200 levels post-breakout level. 

Canara Bank is near the Horizontal resistance level, and if the price is not able to break that we can see more consolidation here if no additional breakout confirmation. 

05.  IDBI Bank Ltd (IDBI) –

IDBI Bank Ltd daily chart trading near major resistance level and currently price has given breakout in Rectangle pattern with strong price and volume. Now possible stock may break the 42.5 resistance level also, we can see some major breakout towards the 47.50-55.00 levels according to chart with the help of 40.00-37.5 level.

IDBI daily chart if not able to move upside and move downside, and break 35 levels we can see major downside on chart. 

06. Religare Enterprises Ltd (RELIGARE)-

Religare daily given fresh breakout pole and flag pattern, like stock, did multiple time in recent time, now price may move towards the 200-225 levels in coming days, the stock has major support near the 150.00 level on the chart. 

Religare if failed to move upside and break the 150 level we can see some downside on the chart. 

07. Supreme Industries (SUPREMEIND)-

Supreme Industries daily chart is given breakout in the Rectangle Pattern, with small candlestick but volume giving the additional confirmation, and now the price may bounce towards the 2500-2700 levels according to chart pattern. Rectangle has strong support near the 2240-2200 level. 

Supreme Industries if fail to move according to Rectangle Pattern, we can see reversal on chart and more consolidation between the Rectangle pattern. 

08. VST Industries (VSTIND)-

Vst Industries daily chart given fresh breakout after the bounce in downside, and now price may move towards the 3800-4000 levels in coming days, with the help of 3300 support level on the chart. 

09. Precision (PRECWIRE)-

Precwire daily chart has given breakout in curve pattern with volume and now the price may bounce towards the 280.00-320.00 level in coming days, with the help of 240.00 support level on the chart. 

Precwire daily chart if break the 230-220 level we can see some fall in price according to chart. 

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Disclaimer

Mr. Chartist is solely dedicated to learning the financial market. Our objective is to improve financial literacy. Since we are practicing Technical Analysis on a personal level we will be providing chart-based study in our weekly Chartbook for educational purposes only.

Users of this website are expected to consider this as a blog only for Learning/Education and not to misread it directly or indirectly as any buy/sell recommendations.

We are not SEBI Registered Investment Advisor & Research Analyst.

Please consider the Risk involved in equity markets. We do not take any responsibility for your profit or loss.​

Chart Source– Tradingview.com

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