BlogChartBook151st ChartBook

151st 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 last week moved with bearish intent and now price trading near psychological as well as Horizontal support near 18000 level. If Index is not able to break this support level we can see some possible bounce from this line and major breakout will be only abvoe fresh high in Index. 

If the index is not able to hold 18000 support and break this level we will see consolidation between the 17400 to 18000 levels. 

Nifty Bank-

Nifty Bank moving upside even after the Nifty Fall and still Nifty Bank chart looking attractive here as index price hit fresh high on Friday and now Price if able to hold 40600 level we can see some major upside towards the 42000/44000 levels in coming days with the help of 39500 support level on the chart. 

If Nifty Bank is not able to move upside and reverse here we can see possible Consolidation between the 38000 to 40500 levels. 

Nifty IT-

Nifty IT daily chart forming the Fresh Rectangle between the 37800 to 34000 levels and now price moving downside we can see support near 34000 level and if index price not able to hold this level we can see some more downside towards the 32000/30000 levels. If Nifty IT daily chart if break the 37900 level and sustain above this we can see some major upside towards the 40000/41000 levels in coming days. 

Nifty Metal-

Nifty Metal chart last week break the rectangle but due to fall now again price trading between the Rectangle Pattern and all levels which were in force before breakout now again active. Nifty Metal trading between the 5930 to 5000 consolidation range. If the index breaks the 5950 level and sustains above this we can see a strong upside on the chart and if the chart is not able to break this range we can see more consolidation between the rectangle range and fresh breakdown below the 5000 level.  

Nifty FMCG-

Nifty FMCG reverse with speed and strong candlesticks, now price may move towards the 37000-36000 levels in coming days as the price is falling with strong bearish intent with strong candlesticks. 

Nifty FMCG daily chart if able to break the 40000 level we can see again consolidation between the 40000 to 42000 rectangle range. 

Nifty Auto-

Nifty Auto’s daily chart perfectly moved according to Rectangle Pattern and now price retracing at multiyear high and we had seen strong fall last week and now price may take support near 11400 level and price may move towards the fresh high, if index able to break the 12100 level we can see 13000/14000 levels in coming days and if index not able to break that level we can see more consolidation between 12000 to 11200 range. 

Nifty Pharma-

Nifty Pharma daily chart trading between the Rectangle Pattern and now price is falling and last hope is ner the 13600 level for bulls. If Nifty Pharma is able to sustain here above the 13600 level we can see more consolidation between the 14750 to 13500 levels. 

If the Nifty Pharma daily chart breaks the 13500 level and sustains below this we can see some major fall up to 13000 to 12250 level and if the Nifty Pharma daily chart is able to break the 14750 level we can see some major and strong movement towards the upside. 

Breakout Charts

Au Small Finance Bank (AUBANK)-

Aubank 5H chart forming the Cup and handle pattern, price trading with strong candlestick and little bit volume. If stock is able to break the 1220 level and sustain above this we can see some strong movement towards the 1300-1360 levels in the coming days with the help of the 1140 strong support levels on the chart. 

AuBank if not able to movement upside and trade below 1220 level we can see some more consolidation between the 1220-1120 range. 

Housing Development Finance Corporation (HDFC)-

HDFC daily chart has given breakout in the cup and Handle pattern with strong volume, now the price may move towards the 3100-3300 levels in coming days with the help of 2800 support levels on the chart. 

HDFC daily chart if not able to move upside and break the 2860 level we can see more consolidation between the 2680 to 2900 range. 

Astral Limited (ASTRAL)-

Astral Daily chart trading between the Ascending Challe pattern and now price taking support at the lower line and we have seen strong hammer at support and some price support on Friday, but the issue is only volume here. Astral daily chart if break the 2220 level and sustain above this we can see some strong movement towards the 2400-2600 levels in coming days with the help of 2100 support level on the chart. 

Astral Daily chart if not able to move upside and break the 2100 support level we can see some fall upto 1900-1800 level. 

Federal Bank Limited (FEDERALBNK)-

Federal Bank weekly chart has given breakout in Descending Resistance level with strong volume and price, now stock may move towards the 120 to 140 level in coming days with the help of 90/80 support level on chart. 

Federal Bank daily chart break the 80 level we can see some major fall in price. 

Breakdown Charts

Indraprastha Gas Limited (IGL)-

IGL daily chart has given a breakdown in the rectangle Pattern with strong volume and price, now the price may move towards the 440-400 level in coming days with the help of 500 resistance level on the chart. 

IGL daily chart if not able to move downside and now if price breaks the 500 level we can see more consolidation between the 580 to 480 rectangle range. 

BIOCON (BIOCON)-

Biocon last week moved perfectly and now the price has given a fresh breakdown in head and shoulder pattern with small shoulders, price, and Volume both supporting the breakdown on chart, now price may move towards the 300/260 level in coming days with the help of 340-350 resistance level on the chart. 

Biocon if not able to move downside and price claim the 340 level we can see some more consolidation between the 330-380 consolidation range. 

Dr. Lalpath Lab (LALPATHLAB)-

Dr. Lalpath Lab perfectly moved according to last week’s chart and now price is moving downside with strong volume and price, now price may move towards the 3220/3000 levels in coming days, the stock has strong resistance near the 3600 level on the chart. 

Dr. Lalpath Lab if able to claim 3600 level and sustain above this we can see some strong move on the chart. 

Cash Charts

Tanla Platforms Limited (TANLA)-

Tanla is simply in an only bullish trend and again price started hitting uc and now price breakout in rectangle pattern with strong volume and price, may move towards 1200/1500 level in coming days. stock has strong support near 900.00 support. 

Tanla is low volume stock in price only deal with UCs and LCs so we need to be cautious in this type of stock. 

Gokul Agro Limited (GOKUL)-

Gokul Agro daily chart trading between the Symmetrical Triangle pattern and now the price has given breakout with strong volume as well as price. Now Gokul agro may move towards the 60/75 level in the coming days with the help of 42.00 support level on the chart. 

Gokul agro daily chart not able to move upside and if price breaks the 42 levels we can see more consolidation between the 37 to 44 level inside the Triangle pattern. 

IFB Industries Limited (IFBIND)-

IFB Industries daily chart given breakout in the Pole and Flag pattern with strong volume and price, now stock may move towards the 1450 level in coming days with the help of 1200/1150 level on the chart. 

1450 level will be a strong and important level to decide the future of stock and if stock is able to break the 1450 level we can see some major upside towards the 1600-1700 levels post breakout. 

Sterlite Technologies Limited (STLTECH)-

Stltech daily chart has given breakout in inverted head and shoulder with strong volume and price, now stock price may move towards the 325-380 level in coming days with the help of 285-275 support level on chart. 

Sterlite daily chart if fail to move upside we can see some more consolidation between the 270-285 range. 

Rites Limited (RITES)-

Rites dasily chart has given breakout in the cup and handle pattern with strong volume and price, now price may move towards the 340-370 level in coming days with the help of 290-280 support level on the chart. 

Rites daily chart if fail to move upside and break the 280 level we can see some major fall in the price. 

IRFC (IRFC)-

IRFC daily chart has given breakout in Double Bump pattern with strong volume and price, now stock may move towards the 32-38 level in coming days with the help of 24.00 support level on chart. 

IRFC  if fail to move upside and stock break 23 level we can see some major reversal on the chart. 

Charts to Watch

ICICI Prudential Limited (ICICIPRULI)-

ICICI Pruli daily chart moving downside but volume is missing from here and this is the issue here. If Price breaks the 600 level with the strong volume we can see some major fall towards the 540-500level in coming days with the help of 640-650 resistance level on chart. 

Icicipruli daily chart if fail to move downside and break the 660 level we can see more consolidation between the 730-660 rectangle pattern. 

Cadila Healthcare Limited (Cadilahc)-

Cadila Healthcare’s daily chart perfectly moving according to last week’s charts to watch, but the price is still missing and the price says stock may move towards the 440/420 level in the coming days. 

if Cadilahc is able to hold the 520 level we can see consolidation between the 580 to 520 levels on the chart. 

Commodity Charts

GOLD-

Gold daily chart trading with strong diagonal resistance line and now price is formed the inverted complex head and shoulder pattern. Now if Gold is able to break the 48250 level and sustain above this we can see some strong movement towards the 51000-53000 level in the coming days with the help of 47000 support level on the chart. 

Gold if not able to break the 48500 level we can see some consolidation and trading between the 48500 to 45000 levels. 

SILVER-

Silver Perfectly bounce from support and now price trading at Horizontal Resistance level and formed the shooting star here and this is an indication of a small reversal. If the Silver price fails to move upside and breaks 64000 we can see a downside towards the 62000-58000 levels with the help of the 66000 resistance level. 

If Silver is able to hold and break the 66000 level we can see some strong upside towards the 74000 level in the coming days with help of the 62000 support level on the chart. 

LEAD-

Lead and other metals show price rejection from upside and now price trading between the 180 to 192 level, we can see more consolidation between this range and outside of this range we can see strong fresh upside and downside movement. 

Lead if break the 180 level we can see some fall in price and if Price breaks the 192 level we can see some strong upside in price pattern. 

NICKEL-

Nickel daily chart trading inside the ascending channel pattern and now if price breaks the 1490 level and sustain below this we can see some fall and price may move towards the 1440-1400 levels. 

Nickel if not able to move downside and hold the 1520 level we can see more consolidation between the 1500 to 1650 levels. 

CRUDE-

Crude simply trading in an uptrend and now the current price is moving upside with a strong bullish candlestick if the price is able to sustain above 6350 level we can see some major upside towards the 6600-6900 level in coming days with the help of 6100 support level. 

Crude daily chart if break the 6000 level and sustain below this we can see some fall in price and price may move towards the 580-5700 levels with the help of 6300 resistance level. 

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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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