BlogDaily Learnings06. Daily Charts

06. 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 perfectly moving as per our ChartBook explanation and price is still looking strong here and price forming the strong bullish candlesticks and now the price may move towards the next resistance near 18200 level and this level going to play a major role in coming days and if Nifty able to break this level we can see some major upside and if Price failed to cross this level we will see more consolidation between 18200 to 17600 range. 

Nifty Daily chart if failed to move upside in any condition and if price breaks the 17600 level we can see some bearish move on the chart. 

02. Nifty Bank (NIFTYBANK)- 

Nifty Bank daily chart perfectly bounces from the Rectangle Pattern and price is moving with strong price formation and still, the price is moving upside with strong candlesticks, now the price may move towards the 39000/41000 levels in coming days with the help of 36400 support level on the chart. 

Nifty Bank daily chart as trading above resistance and if price failed to move upside and if price break that level we can see some more consolidation between the 37300 to 36300 levels according to chart pattern. 

03. Axis Bank Limited (AXISBANK)

Axis Bank daily chart perfectly bounces from support and now price is moving with strong strong candlestick with strong price, now price is confirming the double bottom breakout and now the price may move towards the 760 to 820 levels in coming days with the help of 700 support level on the chart. 

Axis Bank daily chart if fails to move upside and if price breaks the 640 level we can see a fresh breakdown on the chart. 

04. Tata Steel Limited (TATASTEEL)-

Tata Steel Limited daily chart bounce from support and now price confirming the reversal from the chart with the help of some strong candlesticks with the volume, now price may move towards the 1235-1360 levels with the help of 1120 support level on the chart. 

Tata Steel daily chart if fails to move upside and if price breaks the 1080 level and sustain below this we can see some major fall in the price. 

05.  Jsw Steel Limited (JSWSTEEL) –

JSW Steel Daily chart formed the Descending Triangle pattern and now price at fresh breakout with strong volume and price, now price movement may push the stock price towards the 740-780 levels in coming days with the help of 675 support level on the chart. 

Jsw Steel daily chart if fails to move upside and if price breaks the 625 level we can see some price fall in the chart. 

06. Archidply Industry Limited (ARCHIDPLY)-

Archidply daily chart trading near the Curve pattern resistance in the multi-year chart, now if price able to break the 50 levels and sustain above this we can see a fresh breakout on the chart. After the breakout, the 70/90 level will be important to watch and if the price fails to move upside and break the 40/38 level we can see some major fall in the price. 

07. Tokyo Plast International Limited (TOKYOPLAST)-

The Daily chart of TOKYOPLAST at fresh breakout in the cup and handle pattern with strong volume and price confirmation, now the stock has next resistance near the 150-160 level with the help of 100 support level on the chart. 

Tokyoplast if failed to move upside and if price breaks the 100 level we can see some fall in the price according to chart. 

Tokyoplast is low volume stock so volatility and price movement are sudden. 

08. GRP Limited (GRPLTD)-

GRP Limited daily chart today up with the strong volume and now price at fresh Curve Pattern breakout, with strong confirmation, now price may move towards the 1500/1700 levels in coming days, the stock has some major support near 1100 level. 

GRP Limited is low volume stock so sometimes these stocks moved with strong volatile movement. 

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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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