BlogChartBook144th ChartBook

144th ChartBook

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. 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

Indices Charts

Nifty-

Nifty daily chart moved 16000 to 17340 level according to our Rectangle Pattern, and still price looking strong here and now the price may move towards the 17000 levels in coming days, and we can again see the Nifty IT chart for better learning according to chart. Nifty daily chart if break the 17000 levels and sustain below this we can see some major downside in the chart, and now if Nifty It makes a fresh breakout and we can see some major breakout on chart. 

Nifty IT chart is benchmark according to the chart, and Nifty now following the same. 

Nifty Bank-

Nifty Bank Dailly chart has given breakout in Rectangle Pattern, and now price moved 36000 levels to 37500 levels, and now if Nifty Bank if break the 37500 levels and sustain above this we can see some major breakout towards the 38500-39000 levels, and now if index break the 36000 levels and sustain between the rectangle pattern we can see more consolidation between the 34000 to 36000 levels according to chart. 

Nifty Bank still trading in a range, and now if the major breakout did on the chart we can see some major breakout on the chart. 

Nifty Midcap 50-

Nifty Midcap 50 Daily chart perfectly moves 7200 to 7733 levels according to chart, and now price is trading near resistance level and the index has formed the indecisive candlestick pattern, and now if Nifty Bank breaks the 7650 levels and sustain below this we can see some consolidation and trading between the range 7800 to 7000 levels. 

Nifty IT-

Nifty IT daily chart is a perfect example of a rectangle pattern and now price moves 27000 levels to 35000 levels and still price looking strong here, and Nifty IT may move towards the 37000-39000 levels in coming days, the index has support near the  32000 levels and price still moving uptrend according to chart. 

Nifty IT if break the 33700 levels and sustain below this we can see some major downside move and if index able to gain and sustain abvoe 35000 levels we can see major upside move. 

Nifty Metal-

Nifty Metal Daily Chart perfectly able to bounce from rectangle pattern, and now price break the resistance level and now again price moving towards the new high and now if index able to break the 5950 levels and sustain above this we can see movement towards the 6500/7000 levels in coming days, the index has major support near 5450 levels. 

 

Nifty FMCG-

Nifty FMCG daily chart perfectly moves according to Rectangle Pattern and price moves 37000 to 40400 levels and price is strongly looking strong here, and price may move towards the 43000-45000 levels in coming days, and the index has support near the 39000-38000 level. 

Nifty FMCG daily charts if break the 38000 levels and sustain below this we can see some major downside according to chart pattern. 

Nifty Auto-

Nifty Auto daily chart trading between the Rectangle pattern and still price moving slowly downside with candlestick pattern, but price taking some support near the 9700 levels and we can see some bounce from here, and now if Nifty Auto is able to break the 10400 levels and sustain above this we can see some possible breakout according to chart, and now if Nifty Auto break the 9400 levels and sustain below this we can see some major downside according to chart pattern. 

Nifty Pharma-

Nifty Pharma daily chart trading between the rectangle pattern, same like Nifty Pharma and now price is trading near resistance level and now index has formed doji pattern, and now if index break the 14200 levels and sustain below this we can see downside towards the support level, and now if Pharma breaks the 14800 levels and sustain above this we can see some major upside towards 15200-15600 levels in coming days. 

Breakout Charts

Reliance Industry (Reliance)-

Reliance already moved 2100 to 2395 level according to our 141st ChartBook and now chart trading at major breakout level with strong candlestick pattern and price pattern, now stock may move towards the 2550-2700 levels in coming days, with the help of 2300 support level on the chart. 
Reliance daily chart if break the 2300 level and sustain below this level we can see some major downside towards 2100-1900 levels post breakdown. 

Petronet Lng (PETRONET)-

Petronet daily chart bounce from support level and now price trading in consolidation within the range, now if stock break the 235 level and sustain above this we can see some major towards the 250-270 levels with the help of 225 support level. 
Petronet daily chart if break the 210 level and sustain below this we can see some major downside in the price. 

MRF Ltd (MRF)-

MRF daily chart is given breakout in Descending Triangle pattern, but price and volume do not confirm too much about this breakout, now MRF slowly can move towards the 87500-90000 levels in coming days, with the help of 79000 support level on the chart. 

MRF daily chart if break 75000 level and sustain below this we can see some major downside towards 67500-65000 levels according to chart pattern. 

Bharat Petroleum Corporation Limited (BPCL)-

BPCL daily chart looking bullish here and price moves upside and now price trading near major breakout level, and now if price sustain here above 491 level and sustain above this we can see some major breakout towards 540 level with the help of 460 support level. 

BPCL daily chart if break 460 level and sustain below this we can see some major downside towards 420-400 levels according to chart pattern. 

Hindustan Petroleum  Corporation Limited (HINDPETRO)-

HindPetro daily chart moving upside according to chart, and now price is moving with strong volume and the strong candlestick, Hindpetro may move towards the 295-309 levels in coming days, the stock has strong support near the 265 level. 
Hindpetro Daily chart if break the 260 level and sustain below this we can see some consolidation in price movement according to chart. 

Ambuja Cements Ltd (AMBUJACEM)-

Cement stocks moved strongly this week and still all stock charts looking too much strong here and we can see a major moves in the coming days. Ambuja Cement daily chart has given breakout in the Curve pattern and confirms with strong volume and some bounce in volume, now Ambuja Cement may move towards the 460-480 levels in coming days, with the help of 420-425 support level. 

Ambuja Cement daily chart if break the 420-415 level and sustain below this level, we can see some major downside towards 390-370 levels as per Pattern. 

Breakdown Charts

City Union Bank (CUB)-

City Union Bank daily chart trading in Resistance zone which is formed by the recent support zone and now price reversing from resistance. if CUB breaks 150 levels and sustains below this we can see some major downside towards 140-125 levels in the coming days with the help of 161 resistance levels. 

CUB daily chart if break the 161 level and sustain above this we can see some major breakout on the chart and we can see consolidation between the 180 to 155 levels according to chart. 

Muthoot Finance Ltd (MUTHOOTFIN)-

Muthoot Finance daily chart trading in a Rising Wedge pattern and now price reversed from a resistance level with some indecisive candlestick patterns, and now if stock price break 1480 level and sustain below this we can see some major downside towards 1400-1320 levels nin coming days post breakdown with the help of 1525 resistance level. 

Muthootfin daily chart if break 1530 level and sustain above this we can see some major breakout on the chart with the help the 1480 support level. 

Granules India (GRANULES)-

Granules daily chart trading between the Rectangle Pattern and now stock formed the bearish engulfing pattern here, and now if Granules break 338 level and sustain below this we can see some major downside towards 300 levels in coming days, with the help of 355-360 resistance level. 

Granules daily chart if break 360 level and sustain above this we can see some upside and stock have 390 resistance level and if stock break 390 level and sustain above this we can see some major breakout. 

Charts to Watch

Bharat Electronics Limited (BEL)-

BEL daily chart trading at fresh high with strong breakout with candlestick and price, and now price may move towards 225-235 levels according to charts, and now if price not able to move towards upside according to chart and again able to break 190 level we can see some consolidation between the 170-190 recent rectangle pattern range. 

Network 18 Media (NETWORK18)-

Network18 daily chart given breakout in Falling Wedge pattern, with volume, but still stock trading below the major resistance which is near 58 levels, once stock able to break 58 levels we can see price have some special plans for us. Network18 has support near 47/59 levels according to the chart. 

Network 18 if break 45 level and sustain below this we can see stock will consolidate between then old range 45 to 27 levels. 

Grindwell Norton (GRINDWELL)-

Grindwell Norton’s daily chart trading at fresh breakout with volume, but still price sustainability is missing from the pattern, now if stock able to sustain above 1420 level we can see 1500-1600 levels in coming days with the help of 1300 support level on the chart. 

Grindwell daily chart if break 1200 level and sustain below this we can see some consolidation and downside below these levels. 

Indian Terrain (INDTERRAIN)-

Indterrain daily chart bounce from diagonal support and now volume also spiking from the chart, if stock able to hold 42 levels on Monday we can see major upside towards 55-65 levels in coming days, with the help of 33.00-35.00  support level. 

Indterrain daily chart if break 35/33 level and sustain below this we can see major fall in chart as this will be major breakdown for price. 

Cash Charts

RPG Life Sciences (RPGLIFE)-

RPG Life Sciences stock already moves 563 to 6285 levels as per our Sniper chart and now stock trading at a fresh breakout in Curve Pattern with strong volume and now stock may towards 700-750 levels with the help of 560-520 support level. 
RPG Life daily chart if break 520 level and sustain below this we can see more consolidation and downside below these levels. 

Cupid Ltd (CUPID)-

Cupid daily chart trading near diagonal support and this time stock bounce from support with strong volume, and now if break the 250 level and sustain above this we can see some major upside towards the 265-290 levels in coming days. 
Cupid daily chart if break the 225 level and sustain below this level we can see some major downside on the chart as per breakdown. 

Orissa Minerals (ORISSAMINE)-

Orissa Minerals’ daily chart trading at a strong support level which is formed by the recent strong resistance level and now price may move towards the 3300/3600 levels in coming days, the stock has near support 2650 level. 
Orissamine daily chart if break 2650 level and sustain below this level we can see some major downside according to chart pattern. 

Cybertech System (Cybertech)-

Cybertech System daily chart trading at diagonal support and now price formed some volume here with a strong candlestick, now stock may move towards the 210-225 levels in coming days, with the help of 160 support level on the chart. 
Cybertech daily chart if break 160 level and sustain below this we can see some major downside towards 140-120 levels post breakdown. 

Bluedart Express (BLUEDART)-

Bluedart daily chart given breakout in Rectangle Pattern with strong volume and strong price formation, now price may move towards 6800-7000 levels in coming days, with the help of 6000-5900 support level on the chart. 
Bluedart Daily chart if break 5600 level and sustain below this we can see some major downside on chart. 

Commodity Charts

Crude Oil (CRUDEOIL-

Crude Oil daily chart trading near the Ascending Channel resistance level and now price formed some strong consolidation near the 5200 to 4950 levels, now if stock break the 4850 levels and sustain below this we can see some major downside below these levels, and now if Crude break the 5200 levels and sustain abvoe this we can see more consolidation and trading between the Ascending Channel pattern. 

Natural Gas (NaturalGas)-

NG moved 240 to 341 level according to cup and handle pattern breakout and now stock trading near the resistance level and still no bearish sign here. If stock break the 355 level and sustain above this we can see some major upside on the chart and if NG is not able to break the 355 level we can see some more consolidation below these levels and if break the downside and shows us bears strength here we can see some down. 

Gold (GOLD)-

Gold daily chart trading in Descending Triangle pattern, and now price trying to bounce here with some volume, but still the price is below the resistance level and now if stock break the 48000 levels and sustain above this we can see some major upside towards 50000/52000 levels post-breakout and now Gold now able to break 48000 levels we can see more consolidation between the 45500 to 48000 levels.  

Silver (SILVER)-

Silver daily chart trading between the Rectangle Pattern and now index trading near support level and bounce from this support with strong volume and price, now if stock able to break 65000 levels and sustain above this we can see some major upside towards 68000-72000 levels post-confirmation and now if Silver, not able move upside and break 62000 levels again, we can see more consolidation between the 62000 to 58000 levels. 

Nickel (NICKEL)-

Nickel Daily chart trading in the Ascending Channel Pattern and now price break the resistance level with strong price pattern and strong volume, now Nickel may move towards the 1525-1550 levels in coming days, Nickel has support near the 1425 level according to chart pattern. 

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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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