BlogChartBook148th ChartBook

148th 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 perfectly moved downside as per last week chart after the small Doji pattern, now price trading again at recent consolidation zone and now price formed the Doji pattern at this range and now if price breaks the 17600 level and sustain above this we can see some upside movement towards the 17850-17950 level and major upside-only above 18000 level on the chart. 

Now Nifty if not able to bounce here and if break the 17450 level and sustain below this we can see more consolidation between the 17150 to 17450 levels, this will be much important for the chart movement. 

Nifty Bank-

Nifty Bank daily chart trading between the Ascending Channel pattern and now index has formed the Hammer pattern near support, now if price breaks the 37500 level and above this, we can see more confirmation between the Ascending Channel Pattern. 

Nifty Bank daily chart if break the 36600 level and sustain below this we can see more consolidation here between the range. 

Nifty IT-

Nifty IT daily chart perfectly reverse from upside according to Gravestone doji and now price again trading at our major support level between the range 33500 to 34500 levels. If the Nifty IT daily chart if break the 33500 level and sustain below this we can see some major breakdown on the chart and stock may move towards the 32000-30000 levels, and if Price not able to break the support range we can see a reversal here and the price is still in Uptrend Channel Pattern. 

Nifty Metal-

Nifty Metal Daily Chart perfectly trading between the Rectangle Pattern and now if price breaks the 5400 level and if Index break this support level we can see some major downside towards the 5200-5000 levels in coming days, and if Nifty Metal daily chart not able to break we cans ee more consolidation between the 5400 to 5950 levels, and major breakout only above the 5950 level on the chart. 

Nifty FMCG-

Nifty FMCG daily charts moving downside in recent few days, and now price finally trading near consolidation range, if Nifty FMCG daily charts if able to break the 41000 level and sustain above this we can see some major breakout towards the 42000-44000 levels in coming days with the help of 40000 support level. 

Nifty daily chart if not able to bounce from support and break 40000 level we can see some major breakdown on the chart according to chart. and price may fall up to 38000-37000 levels. 

Nifty Auto-

Nifty Auto’s daily chart perfectly moved according to the chart pattern, and now the price again fall and trading is near the support level with are formed by the recent resistance level. Now price formed the hammer pattern here, and price may move towards the 11000-11200 levels according to chart with the help of 10400 support level, and if Nifty Auto break the 10400 level and sustain below this we can see some major fall on price. 

Nifty Pharma-

Nifty Pharma daily chart trading between the rectangle pattern, now finally price looking good here and now if index break the 14850 level and sustain above this we can see some major breakout towards the 15100-15400 levels in coming days with the help of 14250-14300 support level on the chart. 

If the Nifty Pharma’s daily chart is not able to break the resistance level we can see can more consolidation between the range 14750 to 13600 levels on the chart. 

Breakout Charts

Mahindra and Mahindra Ltd (M&M)-

Mahindra and Mahindra daily chart perfectly moved according to last week chart and Ascending Triangle Pattern, now stock again moving with strong candlestick and price is also supporting for an upside move, now stock may move towards the 850 to 900 levels in coming days, the stock has major support near 800 level on the chart. 

Mahindra and Mahindra have a strong support zone near the 725-750 levels and this level will decide the future of stock in the coming days. 

Metropolis Healthcare (METROPOLIS)-

Metropolis daily chart trading in strong the Rectangle Pattern and now stock forming the bullish engulfing here with strong volume bounce, now price may move towards the 2900 to 3100 levels in coming days, the stock has major strong support near the 2600 level on the chart. 

Metropolis daily chart if break the 2600 level and sustain below this we can see some major downside towards the 2300/2200 levels on the chart. 

Bandhan Bank (Bandhanbnk)-

Bandhan Bank daily chart trading in the Descending Channel pattern and now price formed some major consolidation between range and now price bouncing with a strong candlestick, but volume is missing. If stock is able to break the 292-295 level and sustain above this we can see some major movement towards the 310-320 levels in the coming days with the help of 280/275 support level. 

Bandhan Bank daily chart if break the 275 level and sustain below this we can see some major downside on chart pattern. 

Manappuram Finance (Manappuram)-

Manappuram Daily chart trading in the Rectangle Pattern and we have seen a strong and perfect reversal from the support level, and now volume and price both supporting the bounce from here, and now the price may move towards the 190-210 levels in coming days with the help of 170 support level on the chart. 

If Manappuram Daily chart is not able to move upside and break the 160 level we can see more consolidation between the 140 to 170 level on the chart. 

Dixon Technologies (Dixon-

Dixon daily chart has given breakout in Rectangle Pattern and this stock in the open sky now with strong volume, now price may move towards the 5200-5500 levels in coming days, the stock has major support near the 4400 level on the chart. 

Dixon daily chart if not able to sustain above breakout and if stock break the 4600 level we can see some more consolidation between our Rectangle Pattern. 

Breakdown Charts

Asian Paints (ASIANPAINTS)-

Asian Paints daily chart trading between the Ascending Channel pattern and now price is falling with strong candlestick price, now if stock break the 3150-3100 level and sustain below this we can see some major downside towards the 3000-2800 levels in coming days, with the help of 3300 resistance level on the chart. 

Ascending Channel pattern if not able to break the 3150 level we can see some more consolidation between the channel pattern. 

Gujarat Gas Ltd (GUJGASLTD)-

Gujarat Gas Daily chart trading near a support level, now price is forming bearish marubozu with strong volume, now if stock break the 600 level and sustain below this we can see the downside towards the 550-500 levels in coming days, with the help of 630 resistance level. 

Gujarat Gas daily chart if break the 650/675 level and sustain above this we can see some major breakout on the chart pattern. 

Mphasis Ltd (MPHASIS)-

Mphasis daily chart trading in ascending broadening wedge pattern and now price trading at support level, if stock break the 3000 level and sustain below this we can see some major downside towards the 2800-2600 levels in coming days with the help of 3100-3150 resistance level. 

Mphasis daily chart if break the 3150 level and sustain above this we can see some major breakout towards the 3300-3400 levels in coming days. 

Cash Charts

Kirloskar Ferrous India Limited (KIRLFER)-

Kirlfer daily chart trading at the major horizontal support level and now the price has given breakout in small rectangle pattern with strong volume and price. Now Kirlfer daily chart may move towards the 270/310 levels in the coming days with the help of the 250-240 support levels on the chart. 

Kirlfer daily chart, now if break the 240 level we can see more consolidation between the pattern, and now if stock break the 220 level and sustain below this we can see some major downside on the chart. 

Dynamic Products (DYNPRO)-

The dynamic daily chart has given breakout in the ascending triangle pattern with strong volume and price, now stock may move towards the 700-750 levels in coming days, with the help of 560-580 level on chart. 

Dynamic daily chart if break the 520 level and sustain below this we can see some major fall on price pattern. 

Titagarh Wagons Limited (TWL)-

TWL daily chart finally moving according to our Curve Pattern, with strong volume and price, now stock may move towards the 120-150-170 levels in coming days with the help of 90.00-80.00 support level on the chart. 

TWL daily chart if break the 80 levels and sustain below this we cans ee some fall on price pattern. 

The Grob Tea Company (GROBTEA)-

Grobtea daily chart trading in the Curve pattern and now stock took support level with strong volume and price, now stock may move bounce here and price may move towards the 1300-1400 levels. If Grobtea daily chart if break the 1400 level and sustain abvoe this we can see some major breakout towards the 1800-2000 levels in coming days with the help of 1000 support level. 

Grob Tea is low volume stock, if stock break the 1000 level and sustains below this we can see some major fall in price. 

GPT Infraprojects (GPTINFRA)-

Gptinfra curve chart moving in upside and now the price has given breakout in the Pole and flag pattern, now stock may move towards the 120 to 150 levels in coming days, with the help of 80-75 support level. 

Gptinfra daily chart if break the 75 levels and sustain below this we can see some major fall on price. 

JK Cements (JKCEMENT)-

JK Cements daily chart trading in the Rectangle pattern and now price took strong support near lower line with strong volume and price, now stock may move towards the 3400-3600 levels in coming days with the help of 3000 support level on chart. 

JK Cements daily chart if break the 3000 level and sustain below this we can see some fall in the price pattern. 

Charts to Watch

Dr. Reddys Labs (DRREADDY)-

Dr. Reddy’s daily chart formed the cup and handle pattern and now price trading near breakout level with less volume. If stock break the 5000 level we can see some major upside towards the 5200-5500 levels post-breakout with the help of 4750 support level. 

If Dr Reddy not able to break resistance we can see some major consolidation between the 4700 to 5000 levels. 

Colgate Palmolive (COLPAL)-

Colpal daily chart trading between the rectangle pattern, and now price is formed the bullish engulfing, but volume is missing. Now if stock is able to break the 1700 level we can see upside towards the 1740 level and if stock break the 1740 level we can see some major breakout and movement on the chart. 

Colpal if not able to upside and break the 1640 level and sustain below this we cans ee some major fall in stock price. 

Lupin Ltd (LUPIN)-

Lupin daily chart took support at Horizontal Line and now price formed the Descending Triangle pattern and now price bouncing but volume is missing. Now if Lupin is able to sustain here above the 975 level we can see some major breakout towards the 1025-1075 levels in the coming days with the help of the 950-930 support level. 

Monte Carlo Fashion (MONTECARLO)-

Monte Carlo Fashion daily chart trading between the curve pattern and now if stock break the 390 level and sustain above this we can see some major breakout towards the 480-600 levels in coming days with the help of 315-330 support level. 

Montecarlo daily chart if break the 315 level and sustain below this we can see some major fall on price. 

Ingersoll Rand Rover (INGERRAND)-

Ingerrand daily chart trading between the Rectangle Pattern and now price bouncing with strong volume and price, now if stock break the 1030 level and sustain here we can see some major upside towards the 1100-1200 levels in coming days with the help of 975 support level on the chart. 

Rectangle Pattern if break the 975 level and sustain below this we can see some consolidation between the rectangle pattern. 

Apollo Micro System (APOLLO)-

Apollo Micro System’s daily chart trading in long Inverted head and shoulder pattern, now if stock break the Apollo stock resistance level 150 level we can see some major breakout towards the 200-250 levels in coming days with the help of 100-120 support level on the chart. 

Apollo Stock if break the 100 level we can see more consolidation between the range. 

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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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