BlogChartBook164th ChartBook

164th 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 at an important level which is formed by the support-resistance and support. Now price at support formed the Doji pattern, this is not enough for reversal confirmation, we need to wait here for reversal confirmation, if price able to sustain here above recent day high 17710 level with strong price we can see some possible relief for bulls and price may take turn towards the bulls. If price not able to break the resistance and trade below the Doji’s low (17500) we can see some major downside in the chart and price can move towards the 17000-16500 levels in coming days with the help of 17800 resistance level on the chart. 

Nifty Bank-

Nifty Bank chart moving perfectly as per our wave but now we need additional confirmation for a bounce from the B point. Yes, Doji formation is good but the price fall with the strong price so we need some more additional confirmation, now if the price sustains here above the 38000 level we can see some possible bounce here and an additional breakout above the 38700 level only. 

Nifty Bank currently trading in important zone and bearish is still with strong hold, if price break the 37000 level we can see some major downside on the chart. 

Nifty IT-

Nifty IT daily chart fails to Rectangle Pattern Breakout and now price again fall into the rectangle range, we can see more consolidation here between the 37500 to 34000 levels and we need to wait here for fresh breakout and fresh breakdown on the chart, as rectangle formation on the play so we can see some more strong consolidation and trading here with strong volatile movement. 

Nifty Metal-

Nifty Metal daily chart trading between the Rectangle Pattern and price finally trading near the upper line with strong candlestick with strong Doji, now if price able to break the 5950-6000 levels in coming days and if price sustains above this we can see some major upside towards the 6200/6400 levels in coming days with the help of 5600/5650 support level on the chart, if Price not able to break that level and if the price break the 5600 level we can see some fall and more consolidation between the current Rectangle range 6000 to 5000 levels. 

Nifty Pharma-

Nifty Pharma daily chart also playing with the Rectangle pattern and now price falls with strong candlesticks and now price is trading at important support with is formed by the Rectangle lower line support. Price is still trading above the support line and this is the only thing that is supporting the bulls here if the price break the 13000 level we can see some major downside in the chart as this price movement is strong in favor of bears. 

Nifty AUTO-

The Nifty Auto is the only indices that are still holding to bulls strength and now price is forming some indecisive pattern with strong Dojis, which may again lead stock towards the recent high which is 12000 level. 

Nifty Auto daily chart if able to break the 12000 level and sustain above this level we can see some major upside in the chart and we will have a fresh multi-year breakout at an all-time high. 

If the Nifty Auto daily chart fails to break the resistance and price trading below the 12000 level we can see some reversal on the chart and the price may again be between the 11000 to 12000 range. 

Nifty Energy-

Nifty Energy’s daily chart perfectly moved as per the Falling Wedge pattern and now the price is trading at an important resistance level with Dojis, which is indicating the small possible reversal. If Nifty Energy fails to reverse and price break the 25500 level we can see some major upside in the chart and the index may move upside with strong strength, if not able to break this resistance out and if the price break the 24600 level we can see some possible reversal here. 

Breakout Charts

Maruti Suzuki Limited (MARUTI)-

Maruti Suzuki daily chart trading at multiple resistance and this stock this week able to maintain the bullish strength and now price trading at resistance level to breakout it out, if price able to break the 8250 level we can consider as breakout and after this price can move towards the 8800/9200/9600 levels as next resistances with the help of 7800 support level on the chart. 

Maruti Suzuki daily chart if fails to move upside and if price breaks the 7800 level and sustain below this we can see some possible reversal from here in favor of bears. 

Cholamandalam Finance Limited (CHOLAFIN)-

Cholafin daily chart trading at an all-time high with the curve pattern, price, and volume both looking strong here and price now if price breaks the 668 level and sustain above this we can see some major upside towards the 720-760 levels in coming days with the help of 630 support level and if Cholafin daily chart fails to break the 670 level we can see some more consolidation between the Curve pattern range 670 to 550 levels. 

Pidilite Industries Limited (PIDILITIND)-

Pidilite Industries 60 Minutes chart trading in the Small rectangle but volume is not small and the price is also showing strength here if price able to break the 2750 level we will have a fresh breakout with strong formation and price can move towards the 2900-3100 levels in coming days with the help of 2660 support level on the chart. 

Pidilite Industries daily chart if fails to break the 2750 level we can see more consolidation between the range of rectangle 2750 to 2650 levels. 

Escorts Limited (ESCORTS)-

One more Auto Stock with strong formation, Escorts 2H chart trading inside the strong Rectangle Pattern with strong Doji Series, now if price breaks the 1920 level we will have a fresh breakout in Rectangle pattern and above this level, we can see some major upside towards the 2100/2200 levels in coming days with the help of 1850 support level on the chart. 

Escorts daily chart if fails to move upside and if price breaks the 1840 support level we can see some fall in the price between the lower range of rectangle 1840 to 1790 levels and if price break the 1790 level we can see some major fall in the price. 

Breakdown Charts

Pi Industries Limited (PIIND)-

Pi Industries daily chart has given a fresh breakdown in the inverted cup and handles pattern and now price falling with a strong candle as well strong volume, Now price can move towards the 2400-2100 levels I coming days with the help of 2700-2800 resistance levels on the chart. 

Pi Industries daily chart if fails to move downside and if price breaks the 2800 level we can consider this as a reversal.

L&T Technology Service Limited (LTTS)-

LTTS daily chart trading below this breakdown level in the Ascending Channel pattern and now price is falling with strong candlesticks and strong volume, now price can move towards the 4400 to 3600 levels in coming days with the help of 5000-5200 resistance level on the chart. 

LTTS daily chart if fails to move downside and if price reclaims the channel range 5400 level we can see some bounce in the chart and relief for the bulls. 

Indiamart Intermesh Limited (INDIAMART)-

India Mart daily chart perfectly moving as per the rectangle pattern and now price is falling with strong volume and price after consolidating at support, now price can move towards the 5200/4400 levels in coming days with the help of 6800 resistance level on the chart. 

India Mart daily chart if fails to move downside and if price breaks the 6800 level we can see some relief for bulls and price will be in rectangle range again. 

Tech Mahindra Limited (TECHM)-

Bajaj Auto Limited daily chart trading near the resistance level and now price forming the strong Doji near resistance in series and now if price break the 3350 level and sustain below this we can see some more downside towards the 3240/3080 levels in coming days with the help of 3470/3480 resistance level on the chart. 

Bajaj Auto daily chart if fails to move downside and if price break the 3480 level and sustain above this we can see some major upside in the chart and stock can move towards the 3640-3760 levels in coming days with the help of 3400 support level. 

Cash Charts

Linc Limited (LINC)-

Line Limited weekly chart has given breakout in Rectangle pattern with strong candlestick and strong volume, now price can move towards the 340-380-480 levels in coming days as per formation with the help of 240 support level on the chart. 

if Linc weekly chart fails to move upside and the price break the 240 level we can see some possible reversal and fall in the price. 

Premier Explosives Limited (PREMEXPLN)-

Primer Explosive Weekly chart trading in the Inverted head and shoulder pattern with the strong candlestick in the price with strong volume, now if price sustains here above the 290 level we can see some major upside in the chart and stock can move towards the 350-450 levels in coming days with the helo of 225 support level on the chart. 

Premier Explosives daily chart if fails to move upside and price break the 225 level we can see some strong fall in the price. 

Pressman Advertise Limited (PRESSMN)-

Pressmn weekly chart has given breakout in the Cup and handles pattern with strong volume and price, now price can move towards the 56-76 levels in coming days with the help of 32 support level on the chart. 

Pressmn weekly chart if fails to move upside and if price breaks the 32 levels we can see some strong fall in the price. 

Worth Peripherals Limited (WORTH)-

Worth daily chart has given breakout in the Curve Pattern with strong volume and price, now price can move towards the 145-165 levels in coming days with the help of 116 support level on the chart. 

Worth daily chart if fails to move upside and if price break the 108 level we can see some fall in the chart,. 

Commodity Charts

Gold-

Gold Daily chart trading in descending diagonal resistance line and now price is trying to bounce here, but the price is still not able to break that resistance out and now if price breaks the 48500 level and sustain abvoe this we can see some major upside in the chart and Gold can move towards the 51000-54000 levels in coming days with the help of 47500 support level on the chart. 

Gold daily chart if not able to break the resistance out, we can see some more consolidation here between the 49000 to 47000 levels and now if price break the 47000 level and sustain below this we can see some major downside towards the 45000-43000 levels post breakdown. 

Silver-

Silver daily chart trading between the Rectangle pattern and now price is trading near the middle line and still the price is not able to break that resistance out, now if price able to break the 66000 level we can see some major upside towards the resistance line of rectangle and if price not able to break the resistance we can see some more consolidation between the lower range 66000 to 58000 levels. 

Copper-

Copper daily chart trading between the Rectangle pattern and current price is trading near the middle line and price is more consolidating near this line, now if price break the 760 level and sustain here we can see some major upside towards the 800 levels in coming days with the help of 740 support level and now copper daily chart if not able to break the upside and if price break the 740 level we can see some fall in the price. 

LEAD-

Lead daily chart trading between the Rectangle Pattern with 192 to 180 range and still we can see some more consolidation between this range and fresh breakout and breakdown outside the this rectangle pattern, if price break the 192 level and sustain above this we can see some major upside in the chart and Lead can move towards the 205-215 levels in coming days with the help of 186 level and now if price not able to break the up and if price break the 180 level and sustain below this we can see some major downside on the chart. 

ZINC-

Zinc 4H chart moving in upside after the Ascending triangle pattern and now price is still looking good here and price can move towards the 310-324 levels in coming days with the help of 292 support level on the chart, now if Zinc able to break the 292 level and sustain below this we can see some major fall in the price according to 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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