BlogChartBook166th ChartBook

166th 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 Middle Line of bigger Rectangle pattern and now price is trading here with some indecisive nature of movement and, if price able to sustain below this middle line we can see some fall towards the support line and if price able to sustain above this Middle line we can see some upside towards the upper line and major upside-only post-breakout in the rectangle pattern above 18400 levels. 

Nifty Bank-

Nifty Bank chart moving perfectly as per our wave and price able to break the A point and now price is looking some confusing here and price fall after the breakout and now price if able to sustain below the 38400 level we can see more consolidation between the 38400 to 30800 levels and if price able to sustain above 38400 level and if price break the 39000 level we can see some major upside towards the 40000/41000 levels post upside confirmation. 

Nifty IT-

Nifty IT daily chart price again back into the Rectangle Pattern and price is started trading between the rectangle range and now we can see some more consolidation between the 37400 to 34000 levels and this range will be important to watch. Now if the Rectangle pattern is able to break the lower range support level 34000 we can see some major downside on the chart and if the price is now able to break the downside and if price breaks the 37400 level we can see some major upside towards the 39600-41000 levels post breakout. 

Nifty Metal-

Nifty Metal daily chart took perfect support at middle line and now price started trading at resistance line and this time finally we can see some major breakout in the chart and if price able to break the 5950 level and sustain above this we can see some major upside towards the 6200-6400 levels after breakout and if price not able to break the resistance we can see some more consolidation between the 5900-5400-5000 levels as per the chart. 

Nifty Auto-

The Nifty Auto daily chart is trading near the major resistance level or multi-year resistance, now if the price break the 12000 level and sustains above this we can see some major upside towards the 12500-13000-13500 levels post-breakout, and if the price fails to break the 12000 resistance level we can see some more consolidation here between the small consolidation range 10400 to 12000 levels. 

Nifty FMCG-

Nifty FMCG’s daily chart perfectly took support at Horizontal Line and now price is trading between the small consolidation range between the 38400 to 35600 levels and now if price breaks the 38400 level and sustain this we can see some major upside towards the 40000/42000 levels in coming days with the help of 37000 support level. If price not able to break the resistance out we can see some more consolidation between the currently range 38400 to 35600 levels and fresh breakdown below the 35600 level. 

Nifty Pharma-

Nifty Pharma fails to move downside and now price again trading between the Rectangle Pattern with a range of 14800 to 13200 levels, now price will consolidate more between this range and now if price breaks the 14800 level and sustain abvoe this we can see some major upside in the chart and if price not able to move upside and if price break the 12800 level we can see some major downside in the chart. 

Breakout Charts

Hindustan Copper Limited (HINDCOPPER)-

Hindustan Copper daily chart currently trading between the Rectangle Pattern and now price finally trying to break the resistance out with help of strong volume and now if the price break the 140 level and sustains above this we can see some major upside towards the 152 to 190 levels with the help of 130 support level on the chart. 

Hindustan Copper if fails to break the 140 level we can see some more consolidation between the 140 to 106 levels. 

Cholamandalam Finance Limited (CHOLAFIN)-

Cholamandalam Finance daily chart trading at fresh high and this is also fresh breakout with strong volume and price, now price can move towards the 720-750 levels in coming days with the help of 650-640 support level on the chart. 

Cholafin if fails to move upside and if the price breaks the 620 level we can see some possible downside as per the price and we can see some major fall in the chart. 

Vedanta Limited (VEDL)-

Vedanta Limited daily chart has given a breakout in the Symmetrical Triangle pattern with strong volume as well as strong price. Now if the price is able to break the 365 level we will have a fresh breakout in the chart and stock can move towards the 390-410 levels in the coming days with the help of the 345 support level on the chart. 

If VEDL daily is not able to break the 365 level we can see consolidation in the price and if the price is able to break the 340 level we can see more consolidation between the 340 to 310 levels. 

Marico Limited (MARICO)-

Marico Daily chart bounce from support and now price is moving upside with strong price and now trading near the middle line, and if price break the 515 level and sustains above this we can see some major upside towards the 560-600 levels in coming days with the help of 500-490 support level on the chart. 

Marico Daily chart if not able to break the resistance we can see some more consolidation between the 520 to 460 levels. 

Breakdown Charts

Pfizer Limited (PFIZER)-

Pfizer Daily chart trading near the major horizontal support line and now price is trying to fall with strong volume and price, now if the price is able to break the 4400 level we will have fresh breakdown and price can start moving towards the 4000/3600 levels in coming days with the help of 4600 resistance level on the chart. 

If Pfizer is not able to break the 4400 level we will have some more consolidation here near support and reversal confirmation only above the 4600 level. 

Multi Commodity Exchange Limited (MCX)-

MCX daily chart trading below the major horizontal support with strong volume and price, now stock can move towards the 1300-1250 levels in coming days with the help of 1500 resistance level on the chart. 

MCX daily chart if not able to move downside and if price breaks the 1600 level we will have reversal from the Horizontal support level. 

Lupin Limited (LUPIN)-

Lupin daily chart trading at the major support level and stock trying to reverse from the support and now if price breaks the 920 level we will have fresh reversal from the support and stock can move towards the upper resistance line on the chart and if Lupin price not able to reverse from the support and now if price break the 850 level and sustain below this we can see some major downside towards the 760-720 levels with the help of 900 resistance level. 

First Source Solution Limited (FSL)-

FSL daily chart trading between the Rectangle Pattern and now price is falling with strong volume near support and if price breaks the 150 level and sustain below this we can see some major downside towards the 130-120 levels with the help of 160/165 resistance level on the chart. 

FSL daily chart if break the 170 level and sustain abvoe this we will have a fresh reversal on the chart and stock can move towards the 190-220 levels in coming days with the help of 150 support level. 

Hindustan Petroleum Limited (HINDPETRO)-

Hindpetro daily chart trading between the Ascending Channel pattern and now if price breaks the 280 level and sustain below this we can see some major downside towards the 250-230 levels in coming days with the help of 300 resistance level on the chart. 

Hindpetro if fails to break the 280 level we can see some more consolidation between the Ascending Channel pattern. 

Cash Charts

Bharat Wire Ropes Limited (BHARATWIRE)-

Bharat Wire’s weekly chart forming the Cup and Handle Pattern with strong volume and price formation, if the price is able to break the 83 levels with strong volume and with the sustainable price, we can see some major movement towards the 110/150 levels in coming days with the help of 70 support level on the chart. 

Bharat Wire’s daily chart is trading near the middle line and if the price is not able to break the resistance and price break the 50 levels we can see some major downside on the chart. 

Orient Abrasives Limited (ORIENTABRA)-

Orient Abrasives Weekly chart has given breakout in the Cup and Handle Pattern with strong volume and price, now price can move towards the 50/60 levels in coming days with the help of 30 support level on the chart. 

Orient Abrasives daily chart if fails to move upside and if price breaks the 25 levels we can see some major fall in the chart. 

Speciality Restaurant Limited (SPECIALITY)-

Speciality Weekly chart has given breakout in the Inverted Head and Shoulder pattern with strong volume and price, now stock can move towards the 150-180 levels in coming days with the help of 100 support level on the chart. 

Speciality daily chart if fails to move upside as per pattern breakout and if price breaks the 80 levels we can see some major fall in the chart. 

Jindal Drilling Limited (JINDRILL)-

Jindal Drilling’s Weekly chart has given a breakout in the Descending Channel Pattern with strong volume and price formation, now stock can move towards the 300/375 levels in the coming days with the help of 130-120 support level on the chart pattern. 

Jindal Drilling’s weekly chart if fails to move upside and if the price breaks the 150 level we can see some fall in the chart. 

Texmaco Rail and Engineering Limited (TEXRAIL)-

Texmaco Rail and engineering limited weekly chart have given a breakout in the Rectangle pattern with strong volume and price, now price can move towards the 60-76 levels in coming days with the help of 35 support level on the chart. 

Texmaco daily chart if fails to move upside and if price breaks the 40 levels we can see some more consolidation between the Rectangle pattern. 

Charts to Watch

Balaji Telefims Limited (BALAJITELE)-

Balaji Telefilms has given a breakout in the Descending Resistance line with strong volume and price, now the price can move towards the 88-100 levels in the coming days with the help of the 68-60 support level on the chart. 

Balaji Telefilms daily chart if not able to break the 75 again we can see some more consolidation between the range. 

Indiabulls Housing Finance Limited (IBULHSGFIN)-

Indiabulls Housing Finance daily chart trading at the major support level and the price is consolidating here near the support, now if price breaks the 230 level and sustain above this we will have fresh upside in the chart and now if price break the 200 level and sustain below this we can see some major fall in the price. 

Federal Bank Limited (FEDERALBNK)-

Federal Bank daily chart trading near the major resistance level and now price is trying to reverse from here and now if price able to sustain below the 97-95 level we can see some major fall towards the 90-84 levels in coming days with the help of 100 resistance level. 

Federal Bank daily chart if break the 100 level and sustains above this we can see some major upside in the chart. 

S Chand and Company Limited (SCHAND)-

S Chand and Company daily chart forming the Cup and handle Pattern and now price is trying to bounce from the support level and now we can see some major upside towards the 150 level and now if price break the 150 level and sustains above this we can see some major upside towards the 200-240 levels post-breakout with the help of 100 support level. 

Schand if fails to move upside and if price breaks the 95 levels we can see some major fall in the chart. 

Sumitomo Chemical Limited (SUMICHEM)-

Sumitomo Chemical Daily chart has given a breakout in the Descending Channel pattern with strong volume, breakaway gap, and strong volume. Now Price can move towards the 450-520 levels in the coming days with the help of the 400-390 support level on the chart. 

Sumitomo daily chart if not able to move upside and price fall below the 380 level we can see some more consolidation between the Descending Channel Pattern. 

Linc Pen Limited (LINC)-

Linc Pen weekly chart perfectly moving as per our last Chart and now price is moving upside with strong volume and now we can see some major upside towards the 400/500 levels in coming days with the help of 200-180 support level on the chart. 

Linc daily chart if not able to move upside and if the price break the 200 level and sustains below this we can see some major fall in the Chart.

AVT Natural Limited (AVTNPL)-

AVT Natural Limited daily chart formed the same chart as Orientbell did, Avt Natural daily chart has given breakout in the Curve pattern and now price is moving upside with strong volume and price, now stock can move towards the 115-135 levels in coming days with the help of 85 support level on 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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