BlogChartBook159th ChartBook

159th 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 between range according to last chartbook range and the current price is trading near a support level, now if Price able to break 16900 level and sustain below this we can see some movement towards the 16600-16200 levels in coming days, and resistance will be near 17200 level on the chart and if price not able to break the 16900 support level we can see more consolidation between the `17600 to 16900 levels on the chart. 

Nifty daily chart if gain 17200 level and sustain above this we can see some movement towards the 17600 levels and now if Nifty Daily chart if break the 17650 level and sustain above this we can see some movement towards the 18000-18200 levels post-breakout. 

Nifty Bank-

Nifty Bank chart perfectly entered into the Rectangle pattern and currently price is consolidating between the 36200 to 34200 levels and we can see more consolidation between this range, and now price range-extended between the fresh range between 37500 to 34000 levels, and now if Nifty Bank able to break 37500 level and sustain above this we can see some major movement towards the upside and now if price able to break the 34000 level and sustain below this we can see some major fall in the price. 

Nifty IT-

Nifty IT Trading between the Rectangle Range and price is trading between this pattern range (37500-34000) levels and currently price is trading at middle of range and we can see more consolidation between the Rectangle pattern range. Major breakout will be only above 38000 level and breakdown will be below 34000 support level on the chart. 

We can see same patterns in major IT stock and majority of stocks trading at Support in rectangle pattern and TCS reversing from support with strong candlesticks. 

Nifty Metal-

Nifty Metal daily chart trading between the Rectangle Pattern and currently now price is trading near middle line after forming bearish candlestick pattern, now if price able to break the 5400 level and sustain below this we will have a fresh range between 5400 to 5000 levels and the current price is trading between 5400 to 6000 levels. 

Currently, we have a Nifty Metal rectangle range between the 6000 to 5000 levels, now if the price break the 6000 level and sustain above this we can see some major upside in the price, and now if Nifty Metal break the 5000 level and sustain below this we can see some major breakdown on the chart and price can move downside. 

Nifty Pharma-

This time we have fresh rectangle pattern range between 14900 to 13200 levels and currently price is trading between lower porition of pattern which is between 14000 to 13200 levels. 

Nifty Pharma as trading in rectangle pattern so if price able to break the fresh lower line level 13200 and sustain below this we can see some major fall towards the 12750-12300 levels in coming days with the help of 13600 resistance level and now if Price not able to breakdown and break the 14000 level we can see fresh movement range between 14750 to 14000 levels. 

Nifty AUTO-

Nifty Auto daily chart currently trading between the Rectangle Range and now price is falling from resistance level with strong price formations and now price may move towards the 10200 to 9500 levels in coming days as rectangle range is between 11200 to 9500 levels. 

Nifty daily chart if able to break the 11250 levels and sustain above this we can see some major upside in the price and next resistance will be near 12100 level and if Nifty auto daily chart breaks the 9500 level and sustain below this we can see some major fall in the price. 

Nifty Realty-

Nifty Realty daily chart failed to breakout the pole and flag pattern and now price breakdown the range and now price is falling with strong price and now price may move towards the 440-420 levels in coming days with the help of 500 resistance level on the chart. 

Nifty Realty daily chart if failed to move downside and consolidation between range and if Nifty Realty breaks the 560 level and sustain above this we can see some major upside movement on the chart. 

Breakout Charts

Wipro Limited (WIPRO)-

Wipro Daily chart trading between the Rectangle Pattern and now price is bouncing from a support level with strong volume and price and still, Wipro is trading at the middle line, and now if Wipro breaks the 680 level and sustain above this we can see some major upside towards the 710-730 levels in coming days with the help of 660-655 support level on the chart. 

Wipro daily chart as trading between the Rectangle Pattern and now if price failed to move upside and if price breaks the 620 level we can see some fall in the price.

HCL Technologies Limited (HCLTECH)-

HCL Technologies Limited daily chart formed the Inverted Head and shoulder pattern and now price is trying to break the resistance level and now if Hcltech breaks the 1200 level and sustain above this we can see some major movement towards the 1250-1325 levels in coming days with the help of 1150 support level on the chart. 

HCL tech currently trading between the range and now if the price failed to break out the upper level and break the 1100 level we can see some fall in the price.

Gail India Limited (GAIL)-

Gail daily chart trading at major Horizontal Support level and now price is formed some bullish and indecisive candlestick pattern, and now Gail can bounce from support and if price sustains above 132 level we can see some major movement towards the 142-155 levels in coming days with the help of 127 support level on the chart.

Gail’s daily chart if failed to reverse from major support and if price breaks the 125 level we can see some major fall with the help of 130 resistance level on the chart. 

Power Grid Corporation Limited (POWERGRID)-

Power Grid daily chart trading between the Symmetrical Triangle Pattern and now if price able to break 213 level and sustain above this we can see a fresh breakout in the pattern and price may move towards the 225-235 levels in coming days with the help of 206 support level on the chart.

Powergrid currently trading between the Symmetrical Triangle pattern so if the price break the support and price sustain below 204 level we can see some fall towards the 196-192 levels with the help of 210 resistance level. 

Breakdown Charts

Hindustan Petroleum Corporation Limited (HINDPETRO)-

Hindpetro daily chart has given a breakdown in inverted pole and flag pattern and now price is falling but volume is not confirming much about the price, and now Hindpetro may move towards the 270-255 levels in coming days with the help of 300 resistance level on the chart. 

Hindpetro if failed to move downside and if price gain 300 level and sustain above this we can see some upside in the price. 

Godrej Properties Limited (GODREJPRO)-

Godrej Properties daily chart formed the Inverted cup and handle pattern breakdown with strong candlestick patterns with strong volume and price, now price may move towards the 1700-1600 levels in coming days with the help of 1930 resistance level on the chart.

Godrej Properties daily chart if failed to move downside and if price break the 2100 level and sustain above this we can see some major price upside in the chart price. 

United Spirits Limited (MCDOWELL_N)-

Mcdowell_n daily chart has given a breakdown in the Ascending trendline and now price is falling with strong volume and price and now price can move towards the 825-775 levels in coming days with the help of 900-925 resistance level on the chart.

Mcdowell_N daily chart if failed to move downside and if the price break the 925-930 level and sustain above this we can see some major upside and trend reversal in the price. 

Bank of Baroda Limited (BANKBARODA)-

Bank of Baroda daily chart trading at Ascending Support level and now price break that support line with strong volume and price, now Bank Baroda can move towards the 76-68 level in coming days with the help of 88-92 resistance level on the chart. 

Bank Baroda if failed to move downside and if price gain 88 level we can see some upside in the price. 

Cash Charts

Manaksia Aluminium Limited (MANAKALUCO)-

Manaksia Aluminium daily chart trading at major high and now monthly chart trading at a fresh breakout in the Pole and flag pattern with a strong spike in the volume and price, now stock can move towards the 33-40-50 levels in coming days with the help of 22-21 support level on the chart pattern. 

Manaksia daily chart if failed to move upside and if price break the 22 levels we can see some more consolidation between the 22 to 16 levels and this is range of pole and flag pattern. 

Mahanagar Telephone Network Limited (MTNL)-

MTNL weekly chart trading above pennant pattern with strong volume and price, now stock can move towards the 30-32 levels in coming days and this 32 level will decide the future of stock we need to put alert here for major breakout level. If stock is able to break 32 levels we can see some movement towards the 40-60 levels with the help of 20 support levels. 

MTNL if failed to move upside and if price breaks the 20 levels we can see some fall in the price with the help of some resistance levels. 

Gokul Refols and Solvent Limited (GOKUL)-

Gokul Refols and Solvent Monthly chart perfectly moving upside according to chart with strong volume and price, now price may move towards the 55-70-80 levels in coming days with the help of 30-35 support level on the chart. 

Gokul daily chart if fail to move upside and if price breaks the 30 levels we can see more consolidation between the 7 to 30 level on the chart.  

IMP Powers Limited (INDLMETER)-

IMP Powers daily chart taking major support at the monthly chart and now price is bouncing with so much volume and now price can move towards the 35-50 levels in coming days with the help of 10 support level on the chart.

Commodity Charts

Crude Oil-

Crude Oil daily chart basically trading between the Ascending Channel Pattern and now price trading near the middle line and now price is trading in the Pole and flag pattern and now if the price break the 5600 level and sustain here we can see some major movement towards the 6000-6200 levels in coming days with the help of 5300 support level on the chart. 

Crude Oil as trading near middle line of Ascending Channel pattern now price is trading between consolidation range which is between 5600 to 5000 levels, so if price break the 5000 down we can see some major fall in the price. 

Natural Gas-

Natural Gas is trading near the Horizontal Support level and now the price is consolidating here with some small indecisive candlesticks, now if Natural Gas is able to break our 310 level and sustain above this we can see some major movement towards the upside, and the price can reach 340-380 level in coming days with the help of 280 support level. 

As Natural Gas trading near support level, if price break 280 level and sustain below this we can see some major fall in the price according to chart and price may move towards the 260-250 level with the help of 290/300 resistance level on the chart. 

Aluminum Future-

Aluminum price perfectly bounced from diagonal support and now price is trying to bounce from the Horizontal Support line and now price breaks resistance and price may move towards the 228-240 levels in coming days with the help of 210 support level on the chart. 

As price is trading above breakout level and now if price failed to move upside and if price drag below breakout level we can see more consolidation between the 215 to 200 levels range. 

Copper Future-

Copper Daily chart currently trading between the rectangle pattern and currently price consolidated at the lower range, now if Copper break the 750 level and sustain above this we can see some major movement towards the 790/810 levels in coming days with the help of 730-725 support level on the chart. 

Copper Daily chart currently trading between the lower range which is 755 to 700 levels, now if price break the 700 level and sustain below this we can see some major fall in the price. 

Nickel Future-

Nickel daily chart the between the Symmetrical Triangle pattern and now if price break the 1570 level and sustain above this we can see some major upside towards the 1640-1670 levels in coming days with the help of 1530-1520 support level on the chart according to chart. 

Nickel Daily chart as trading between the Symmetrical Triangle pattern so if the price break the 1520 support level we can see some major fall in the price and now price may move towards the 1480-1440 levels in coming days with the help of 1550 resistance on the chart. 

Lead Future-

Lead Trading between the Rectangle pattern and now if price able to break the middle line 187 level we can see some major upside towards the 192 resistance level according to chart and now if Lead break the 192 resistance level we can see some major upside and Lead may move towards 200-210+ levels. 

Lead Daily chart if failed to manage upside and if price breaks the 180 level and sustain below this we can see some major downside in chart and price may move towards the 174-170 levels.

Zinc Future-

Zinc Daily chart consolidating at lower range with some indecisive candlesticks and now price is trying to move upside and now if zinc able to break 290 level we can see some movement towards the 315-325 levels with the help of 280/275 support level on the chart. 

Zinc daily chart if failed to move upside we can see some consolidation between the 290 to 255 levels according to chart. 

Silver Future-

Silver daily chart trading between the Rectangle Pattern and currently price trading near support now price may reverse from here as price trading near support with consolidation at support. Now if Silver is able to break the 62300 level and sustain above this we can see some major upside towards the 66000 level. Now if Silver breaks the 66000 level and sustains above this we can see some major upside in the price with the help of 60000 support on the chart. 

Silver chart if failed to sustain above support and if silver break support we can see some major fall in the price. 

Gold Future-

Gold Daily trading in Rectangle Pattern and now price is bouncing from support level, but we have fresh resistance near middle line, and now if Gold break the 49900 level and sustain above this we can see some major movement towards the 52000-54000 levels with the help of 47777 support level and if Gold failed to break out the middle line we can see more consolidation between the 50000 to 45000 levels range. 

Gold if failed to break resistance and now if Gold able to break the 45000 level and sustain below this we can see some major downside in the chart. 

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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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