BlogDaily Learnings05. Daily Charts

05. 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 moved downside after the Dark Cloud and now index gap down after the price, index gap and opened near support and due to this price bounce from support and filled the gap, but fail the sustain above the breakout level. Nifty now trading between the consolidation zone, and the price may move to consolidate between the 17180 to 17420 levels. 

Possibly index may consolidate here and we can see more small candlestick movements. 

02. Nifty Bank (NIFTYBANK)- 

Nifty Bank daily chart breakout is possibly failed and now price again break the resistance which is now working as support, we can see more consolidation between the 36000 to 38000 levels. We need to carefully watch this range and if price breaks and resistance we can see some major breakout on the chart according to the chart. 

03. Nifty Metal (NIFTYMETAL)

Nifty Metal daily chart again breaks the support level with strong candlestick and now index trading between the rectangle pattern, and we can see more consolidation between the 5500 to 4950 levels. 

Nifty Metal if break the 4900 levels and sustain below this we can see some major fall on price, if Nifty Metal breaks 5500 levels and sustain above this we can see some possible bounce on the chart. 

04. JSW Steel (JSWSTEEL)-

JSW Steel daily chart has given a breakdown in Rectangle Pattern with strong volume and price, now trend finally changed and now stock may move towards the 575-525 levels according to chart with the help of 650 level on the chart pattern. 

JSW Steel daily chart if able to gain 650 level again we can see more sideways consolidation between Rectangle below this stock trade in a downtrend. 

05.  Tata Steel Ltd (TATASTEEL) –

Tata Steel daily chart has given a breakdown in Diagonal uptrend support and as well as rectangle pattern, with strong candlestick with strong volume, now price may move towards the 1100-1050 levels according to chart with the help of 1300 resistance level on cahrt. 

06. Indiabulls Housing Finance Limited (IBULHSGFIN)-

Ibulhsgfin daily chart moved today by 5% down and price again breaks the Lower LL and now stock moving towards the next level according to chart we can see possible downside towards the 190-180 levels with the help of 225 resistance level on the chart. 

Ibulshgfin daily chart if break 230 level and sustain above this we can see some major bounce on the chart. 

07. NMDC Ltd (NMDC)-

NMDC daily chart has given a breakdown in the chart and stock moving downside with strong volume and Candlestick pattern, now price may move towards the 120-100 levels in coming days, the stock has major resistance level near the 150-160 level. 

08. Hindustan Unilever Limited (HINDUNILEVR)-

Hindustan Unilever daily chart trading near the major breakout level, if stock break 2835 level and sustain above this we can see some major breakout towards the 2920-3000 levels in coming days, the stock has major support near the 2750-2720 levels 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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