BlogChartBook171st ChartBook

171st 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’s Daily Chart perfectly bounced from support after forming the Bullish Engulfing at support and now price is trading near the Gap Resistance and price started consolidating here, and now if price breaks the 16800 level we can see some more consolidation between the 16800 to 17100 level and breakout for upside above the 17100 level. 

Nifty’s Daily chart if fails to break the resistance level we can see some more consolidation between the 16800 to 16000 levels and the breakdown will be below the 15600 level on the chart. 

Nifty Bank-

Nifty Bank’s daily chart bounced from support after making Piercing pattern and now price is trading near the small resistance level of 35500 level and this level is the nearest resistance level and if price able to break the 35500 level and sustains above this we can see some major upside towards the 37500-39000 levels in coming days and if price not able to break the resistance level we can see some more consolidation between the 35500 to 32500 levels in the range and breakdown will be below 32000 level on the chart. 

Nifty Metal-

The Nifty Metal’s Daily chart now extend its range and now price is trading between the fresh and big Rectangle range, now price is trading near the resistance level and price formed the Gravestone Doji, and if the price break the 6000 level and sustains below this we can see some major gall towards the 5700-5400-5000 levels in coming days with the help of 6315 resistance levels on the chart.  

Nifty Metal’s daily chart if break the 6320 resistance level and sustains above this we can see some major upside in the chart with the help of 6000 support level on the chart. 

Nifty Auto-

The Nifty Auto’s daily chart trading in Rectangle pattern, and now price bounce from support after forming the Piercing Pattern and now price may continue the upside in coming days we can see some major upside towards the 10600-11400 levels with the help of 9600 support level on the chart. 

Nifty Auto’s daily chart if not able to move upside and if the price break the 9400 level and sustains below this we can see some major fall in the chart. 

Nifty Energy-

Nifty Energy’s Daily chart trading between the strong Rectangle Pattern, and now price trading near the horizontal resistance level, but the price is moving with strong candlestick and if price is able to break the 25500 level and sustains above this we can see some major upside towards the 27500-29000 levels in coming days with the help of 24500 support level on the chart. 

Nifty Energy’s daily chart if fails to break the resistance we can see some more consolidation between the 25500 to 22250 levels. 

Nifty Infra-

Nifty infra’s daily chart took support at Twizzer Bottom or Bullish engulfing pattern, and now price is trading near small resistance level if price able to break the 48100 level and sustains above this we can see some major upside towards the 5000/5300 levels post-breakout in the chart with the help of 4600 support level. 

Nifty Infra’s daily chart if fails to break the 4810 level and trading below the resistance level we can see some more consolidation between the 4820 to 4500 levels. 

Nifty Pharma-

Nifty Pharma’s daily chart bounce from support level which is formed the recent resistance level and now price is moving upside and if price able to break the 13650 level and sustains above this we can see some major upside towards the 14200 to 14900 levels in coming days with the help of 13000 support level on the chart. 

If Nifty Pharma’s daily chart fails to move upside and if the price breaks the 12400 level and sustains below this we can see some major fail in the chart. 

Breakout Charts

Granules India Limited (GRANULES)-

Granules’ daily chart again entred into Rectangle Pattern, and now price moving with strong volume along with strong candlestick pattern, now price may move towards the 340/390 levels in coming days with the help of 280 support level on the chart. 

Granules’ Daily chart if fails to move upside and if price fails below 280 or 260 level we can see some major fall in the chart. 

Balrampur Chini Mills Limited (INTELLECT)-

Balrampur’s daily chart moving upside and now the price has given a breakout in the Pole and Flag Pattern, with strong volume as well price, now stock price can move towards the 530-560 levels in the coming days with the help of 460 support level on the chart. 

Balrampur’s Daily chart if fails to move upside and if the price falls below 460 level we can see some major consolidation towards the downside. 

Syngene International Limited (SYNGENE)-

Syngene’s daily chart bouncing from Rectangle Pattern’s Support after forming some consolidation and now price moving with strong candlesticks. We can see some major upside in the coming days, the price can move towards 620-660 levels with the help of the 520 support levels on the chart. 

If Syngene’s price fails to move upside and if the price falls below 500 level we can see some fall in the chart. 

Alkem Lab Limited (ALKEMLAB)-

Alkem Lab’s Daily chart bounced from major support after forming consolidation at support and now price moving with strong volume along with price, now stock can move towards 3600-3800 levels with the help of 3200-3000 support level on the chart.

If Alkem’s Price fails to move upside and fall below 3000 level we can see some major fall in the chart. 

Trent Limited (TRENT)-

Trent’s Daily chart trading in Rectangle Pattern, and now price trading near resistance level, if price able to break the 1200 level and sustain above this we can see some major upside towards the 1300-1400 levels with the help of 1125 support level on the chart. 

If Trent’s daily chart not able to break the resistance we can see some more consolidation between 1200 to 1000 levels in the chart. 

Breakdown Charts

Bharat Electronic Limited (BEL)-

BEL’s Daily chart trading between the Rectangle Pattern, and now price trying to reverse from resistance level after forming Dark Cloud with big candles and price, now if price able to sustain below 242 level we can see some major fall towards the 204-188 levels incoming days with the help of 225 resistance level on the chart. 

If BEL’s Daily chart able to break 230 level we can see some major upside in the chart with the help of 212 support level on the chart. 

Abbott India Limited (ABBOTINDIA)-

Abbott India’s daily chart moving in Downtrend and now price again started falling from lower high after forming the evening star pattern we can see some fall towards the 16400-16000 levels in coming days with the help of 17800 resistance level on the chart. 

If Abbott’s daily chart fails to move downside and if the price breaks the 18112 level we can see some major upside in the chart and stock can move towards the 18800-20000 levels with the help of 17000 support level. 

Whirlpool of India Limited (WHIRLPOOL)-

Whirlpool’s Daily chart breaks the major horizontal support and now price falling with small candlesticks, we can see some major fall towards the 1400-1300 levels in coming days with the help of 1670 resistance level on the chart. 

If Whirlpool’s daily chart fails to move downside and price able to break the 1700 level we can see some major upside in the chart. 

First Source Solution Limited (FSL)-

FSL daily chart moving in downside as per chart and now price trading at small diagonal support if price able to break the 120 level we can see some major fall in the chart and stock can move towards the 100-90 levels with the help of 135 resistance level on the chart. 

If FSL’s daily chart fails to move downside and if the price breaks the 135 level we can see some upside in the chart. 

Cash Charts

Madras Fertilizers Limited (MADRASFERT)-

Madras Fertilizers’ weekly chart trading near the horizontal resistance line and now if price breaks the 37 levels and sustains above this we can see some major upside towards the 46-50 levels in coming days with the help of 30 support level on the chart. 

Madras Fertilizer daily chart if breaks the 30 level and sustains below this we can see some major fall in the chart. 

Avadh Sugar Energy Limited (AVADHSUGAR)-

Avadh Sugar’s daily chart if breaks the Pole and Flag pattern with strong volume and price, we can see some major upside towards the 760-800 levels with the help of 640 support levels on the chart. 

If Avadh Sugar’s daily chart breaks the 640 level we can see consolidation between the 660 to 520 levels and a fresh breakdown below the 500 level on the chart. 

Healthcare Global Limited (HCG)-

Healthcare Global’s weekly chart trading in Pole and flag pattern and now if price able to break the 265 level and sustain above this we can see some major upside towards the 320-340 levels in coming days with the help of 230 support level on the chart. 

if Healthcare Global’s weekly chart fails to break resistance we can see some consolidation between the 220 to 270 level and a breakdown below 220 level for the major downside. 

Maithan Alloys Limited (MAITHANALL)-

Maithan Alloys’ weekly chart has given breakout in the pole and flag pattern and the daily chart has given breakout in the Rectangle pattern with strong volume and price, now the price can move towards the 1500-1600 levels with the help of 1100 support level on the chart. 

If Maithan Alloy’s daily and weekly chart fail to move upside and if the price breaks the 1160 level we can see more consolidation between the 1200 to 920 levels and fresh breakdown will be below 920 level. 

GHCL Limited (GHCL)-

GHCL’s Daily chart has given breakout in the Rectangle Pattern, with strong volume along with price, now price can move towards the 600-700 levels in coming days with the help of 470 support level on the chart. 

If GHCL’s chart fails to move upside and if the price falls below 450 level we can see some more consolidation between the 480 to 360 levels in the chart. 

Shree Renuka Sugar Limited (RENUKA)-

Shree Renuka Sugar’s weekly chart formed the Rounding bottom pattern and now price trading near important levels if price able to break 44 levels and sustains above this, we will have a fresh breakout in pattern and this pattern will lead the stock for major upside towards the 60 to 85 levels in coming days with the help of 30 support level. 

If Renuka’s Chart is not able to break 44 levels we can see some more consolidation below the resistance level. 

Charts to Watch

Escort Limited (ESCORT)-

Escort’s 4H Chart trading between the Rectangle Pattern, and now if price able to break the 1740 level and sustains below this we can see some major fall in the chart and if price able to break the 1920 level and sustains above this we can see some major upside in the chart. 

Indian Rail Tour Corporation Limited (IRCTC)-

IRCTC’s 4H chart trading between the Rectangle pattern with strong range 920 to 720 levels, now if the price break the 720 level and sustains below this we can see some major fall in the chart and if price able to break the 920 level and sustains above this we can see some major upside in the chart. 

Commodity Charts

Crude Oil-

Crude Oil daily chart perfectly moved as per the pole and flag pattern and now price fails from the resistance and now price trading with bullish engulfing pattern and now if the price break the 8550 level and sustains above this we can see some major bounce in the chart and if price able to break the 8100 level and sustains below this we can see some major fall in the chart. 

SILVER-

Silver’s daily chart moving between the Rectangle Pattern, with 74000 to 58000 range, now if price able to break the 74000 level and sustains above this we can see some major upside in the chart and if price not able to break the resistance we can see some more consolidation between the 74000 to 58000 levels as per rectangle range. 

Gold-

Gold’s Daily chart, reversed from Resistance level and now price trying support at lower levels, if price able to break the 53500 level and sustains above this we can see some major upside towards the 55000-58000 levels with the help of 52200 support level on the chart.

If Gold’s daily chart breaks the 52000 level and sustains below this we can see some more major fall towards the 49500 level which is recent breakout level in the chart. 

COPPER-

Copper’s daily chart moved as per rectangle pattern and now the price falls back to breakout level and now trying to take support at the recent resistance line which is working now as support. If Copper is able to bounce from here and if the price is able to claim 820 level we can see some bounce towards the fresh upside with the help of 800 support level. 

If Copper’s Daily chart breaks the 770 level and sustains below this we can see some more consolidation between the 800 to 700 range. 

LEAD-

Lead’s daily chart trading between the strong consolidation range of Rectangle Pattern, we can see some more consolidation here between the 192 to 180 levels, and now if price able to break the 180 level we can see some major fall in the chart and if price able to break the 192 level we can see some major bounce in the chart. 

2 Responses

Add a Comment

You must be logged in to post a comment

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

Table of Contents