BlogChartBook155th ChartBook

155th 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 trading between the Rectangle Pattern and price movement a little bit bend towards the Bearish, but still price movement is safe till price trading within the Rectangle Range 18200 to 17600 levels. Nifty Daily chart if break the 17600 level and sustain below this we can see a fresh breakdown and new movement towards bearish and price may fall towards 17000/16500 levels and if Nifty Daily chart able to gain 18200 level again and sustain above these levels we can see some major movement towards the 18600/18800 levels. 

Currently, the market is in swing mode and due to this, we are seeing strong bullish and bearish movement on stocks basis. 

Nifty Bank-

Nifty Bank daily chart trading between the Ascending Channel pattern and price tried to break down the range but candlestick was not convincing for breakdown and now price is consolidating near support and now if price able to sustain above 38200 level with strong price movement we can see some bullish hopes and price may move towards the 39K/40K levels with 37600 support level. Nifty Bank daily chart if fail to move upside and if price breaks the 37500 level and sustain below this we can see some major downside towards the 37000/36500 levels in coming days with the help of 38100 resistance on the chart.  

Nifty IT-

Nifty IT Trading between the Rectangle Range and currently price is feeling some heat on the bearish side as the price fall after the three indecisive small bullish candlesticks. Now, if Nifty IT can sustain below 36K level we can see some downside towards the lower range of Nifty IT and this is 35K/34K in the price and if Nifty IT can sustain here and if Price breaks the 37600 level and sustain above this we can see a fresh breakout in the chart and price may move towards the 39/41K levels in coming days with the help of 35500 support level. 

Nifty Metal-

Nifty Metal chart trading between the rectangle pattern and price trading near support level with an indecisive candlestick. Now, if the price breaks the 5900 level and sustains above this, we can see the possible upside and it can trade between the 6200 to 6400 levels. 

If Nifty Metal daily chart breaks the 5400 level and sustains below this, we can see some consolidation between the 5000 to 5400 levels in price. 

Nifty Auto-

Nifty Auto touched the recent range, but the price is not able to sustain above the breakout and the price is falling with strong bearish candlesticks. Now if Price is able to break the 11600 level and sustain below this we can see possibly 11000 level on the chart as currently, index formed the 12000 to 11000 fresh range for movement. 

Nifty Pharma-

Nifty Pharma Daily chart was finally able to break down the Rectangle pattern. and currently, the price is trading below the rectangle pattern. The price is looking weak in favor of bears but the price at breakdown and price may move towards the 13000/12750 levels in coming days with the help of 13750 resistance level on the chart. Nifty Pharma will be in the bullish zone again if the price is able to claim 14000 level on the chart.

Nifty FMCG-

Nifty FMCG daily chart tried to breakout the range last week, but price not able to sustain upper side and currently price created a fresh range with 39500 to 38000 levels. If the Nifty FMCG daily chart is able to break the 38000 level and sustain below this we can see some major movement towards the 37000/36500 levels in the coming days with the help of the 38500 resistance level. and if the Nifty FMCG Daily chart is able to sustain above 39500 level we can see some major upside towards the 40500/41500 levels in coming days with the help of 38000 support on the chart. 

Breakout Charts

HDFC Bank Limited (HDFCBANK)-

HDFC Bank daily chart trading at Horizontal Support level and now price is bouncing from support with bullish marubozu pattern and now if price able to sustain here above 1550 level we can see some movement towards the 1580-1640 levels with the help of 1520 support level on the chart. 

HDFC Bank daily chart if failed to move upside and sustain below 1520 level we can see some major movement towards the 1480-1460 levels on the chart. 

Pfizer Limited (PFIZER)-

Pfizer Limited trying to take support at the diagonal support line and currently price is bouncing from support, if the price is able to sustain here and break the 5150 level we can see some major movement towards the 5300/5450 levels in the coming days with the help of 5000 support level on the price. 

As Pfizer is trading at a support line so price breakdown possibility is equal to the upside movement and now if the price break the 5000 level and sustains below this we can see some major movement towards the 4800/4700 levels in the coming days. 

Granules India Limited (GRANULES)-

Granules Daily chart trading at Horizontal support line and price is a bounce from support with volume and long wick which is saying the price is positive here and now if the price is able to break the 310 level and sustain above 310 level we can see some movement towards the 328 level and after this 328 level will be key to watch if price able to break this level too we can see some major movement towards the 360/380 levels in coming days with the help of 300 support level on the chart. 

As Price is trading at support but here breakdown will not be an easy task to stock price as long wick is formed at a lower level and this suggests the strong buying at lower levels if price fall below 280 level we can see some major fall and price may move towards the 260/240 levels in coming days.

Hindustan Unilever Limited (HINDUNILVR)-

Hindustan Unilever daily chart trading at Horizontal support level and currently price is consolidating at support with bullish candlesticks. Now if the price is able to break the 2440 level and sustain above this we can see some major movement towards the 2520/2640 levels in the coming days with the help of the 2360 support level on the chart. 

Hindunilvr trading near range and if price breaks the 2360 support level, the price will fall into near range 2320 to 2360 levels and if price able to break that too and sustain below 2320 level we can see some major fall into the price. 

Breakdown Charts

Larsen & Toubro Limited (LT)-

LT Trading in the Ascending Channel pattern and now price is reversing after the major consolidation with indecisive candlesticks at resistance and now the price may move towards the 1840/1800 levels in coming days with the help of 1950 resistance level on the chart. 

LT Daily chart if not able to move downside and if price able to claim 1950 level we can again see bullish movement.  

Mindtree Limited (MINDTREE)-

Mindtree 4H chart trading in a rising wedge pattern and no if price break the 4770 level and sustain below this we can see some major movement towards the 4600/4400 levels in coming days with the help of 4900 resistance level on the chart. 

Mindtree daily chart if not able to move downside and if price breaks the 5050 level and sustain above this we can see some major upside on the chart. 

Mahanagar Gas Limited (MGL)-

MGL daily chart has given a breakdown in the pole and flag pattern and volume also confirming the breakdown. Now the price may move toward the 920/880 levels in the coming days with the help of 980/990 resistance level on the chart.

MGL daily chart if again above to sustain and trade above 980 level we can see some more consolidation between old range and bullish reversal confirmation only above 1040 resistance level.  

Ashok Leyland Limited (ASHOKLEY)-

Ashok Leyland chart has given a breakdown in the Ascending Channel pattern and now price is falling with strong price movement and volume, now price may move towards the 130/126 levels in coming days with the help of 144/147 resistance level on the chart.

Ashok Leyland if fails to move downside and again able o sustain above 147 level we can see some major movement towards the fresh breakout. 

Cash Charts

Indian Terran Fashion Limited (INDTERRAN)-

Indian Terran Fashion Weekly Chart has given breakout after some consolidation at the lower side and forming Double Bottom pattern. Price breakout is with volume and now the price may move towards the 80 to 110 levels in coming days with the help of 50/45 support level on the chart. 

If Indian Terran daily chart if failed to move upside and if price break the 50 level we can see some downside on the chart. 

Indowind Energy Limited (INDOWIND)-

Indowind Energy Daily chart has given breakout in the rounding Bottom pattern and now price is moving upside according to chart and now stock may move towards the 25/50 levels in coming days with the help of 10 support level on the chart. Indowind is low volume stock so we need to be alert regarding liquidity. 

Indowind daily chart if not able to move upside and if price break the 10 level we can see some more consoldiating and fall in the price. 

Oricon Enterprises Limited (ORICONENT)-

Oricon Enterprises Weekly chart trading in the Cup and handle pattern  with strong volume and now if price able to break the 33 level and sustain above this we can see some major upside towards the 44/48 levels in coming days with the help of 28 resistance level on the chart. 

Oricon daily chart if not able to break the 35 level and sustain below this level we can see some fall in the price and more consolidation below resistance level. 

Commodity Charts

GOLD-

Gold Daily chart trading near the Horizontal resistance level and now price is reversing from resistance level and now if price break the 48500 level and sustain below this we can see some major fall towards the 47500/47000 levels in coming days with the help of 49500 resistance level on the chart. 

Gold Daily chart if break the 49500 level and sustain above this we can see some major upside towards the 51500/52000 levels with the help of 48500 support level on the chart. 

SILVER-

Silver Daily chart trading between the Rectangle Pattern and now price is falling from middle line and this is range where we need to wait, now if price able to break the the 68K level and sustain above this we can see some major upside towards the 70000-74000 levels in coming days with the help of 64800 support level on the chart. 

Silver daily chart if not able to move upside and if price break the 64000 level and sustain below this we can see some major fall towards the 62000-60000 levels with the help of 68000 resistance level on the chart. 

COPPER-

Copper Daily chart moving upside according to chart and now if price able to break the the 750 level we can see some major confirmation towarsd the bullish side and price may move towards the 760-780 levels in coming days with the help of 720 support level on the chart. 

Copper Daily chart if fail to move upside we can see some more consolidation between the 740-700 levels according to current chart formation. 

ALUMINIUM-

Aluminium Daily chart bouncing from the support and this time price is formed the bullish candlestick pattern and now price if able to break the 215 level and sustain above this we can see some major upside towards the 220-230 levels in coming days with the help of 210-208 support level on the chart and if Price not able to move upside and if price break the 202 level and sustain below this we can see some major fall in the price. 

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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 Advisors & Research Analysts.

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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