BlogChartBook177th ChartBook

177th 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.

Users of this website are expected to consider this as a blog only for Learning/Education purpose 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

Indices Charts

Nifty-

Nifty’s daily chart between the old range which is consolidation between the 17500 to 16800 range (Feb 2022 to Apr 2022) and now price may consolidate more between this range, if price able to break the 17500 level and sustains above this we can see some major upside towards the 17800 to 18200 levels post-breakout and if Nifty’s daily chart break the 16800 level and trade below this we can see some major fall in the chart with the help of 17000 resistance level on the chart. 

Nifty Bank-

Nifty Bank’s daily chart moving downside after forming the island gap in upper range or resistance level and now price trading near the diagonal support line in the chart, if price able to break the 36000 support line and trade below this we can see some major fall towards the 35000 to 34000 levels with the help of 36700 resistance line in the chart. 

If Nifty Bank’s daily chart fails to move fall below 36000 level and if price able to take support here we can see some bounce in the chart and this will lead us consolidation between the 39000 to 36000 range in the chart. 

Nifty IT-

The Nifty IT’s daily chart recently perfectly moved as per the Rising wedge pattern and this lead us to the 36400 to 32000 level this is one of the best examples of the chart.

Currently’ Nifty IT’s daily chart currently trading between the big candlestick pattern with small blue candles, if the price is able to break the 33000 level and trade above this we can see some possible gap filling in the chart and if Nifty IT’s daily chart break the 31500 support level and trade below this we can see some major fall in the chart with the help of 33000 resistance level on the chart. 

Nifty Auto-

Nifty Auto’s is the only index in the market that is moving strongly in the chart and now the price has again given a breakout in the pole and flag pattern, with strong price, now price can move towards the 11400-12000 levels in coming days with the help of 10500 support level on the chart pattern. 

If Nifty Auto’s daily chart is not able to move upside and if the price fall below the 10500 level and trade below this we can see some major fall in the chart and this will lead the price towards the 10200-10000 levels. 

Nifty Infra-

Nifty Infra’s daily chart trading between the Rectangle Pattern, and now price trading near the resistance line and price formed some indecisive candlestick patterns. If the Price is able to 522 level and price trades above this we can see some major upside and we will have some strong resistance level near the 5370 level, if the price is able to break the 5700 level and trade above this we can see some major upside towards the 5600-5800 levels with the help of 5050 support level. 

Nifty Realty-

Nifty Realty’s daily chart trading between the Rectangle Pattern and currently price reversing from the middle line and price is falling and this may fall towards the 420-400 levels in coming days with the help of 480-470 resistance level on the chart. 

If Nifty Realty’s daily chart is able to break the middle line 480 level and trade above this we can see some major upside and this may lead the price towards the 550 resistance level on the chart. 

Breakout Charts

Page Industries Limited (PAGEIND)-

Page Industries’ daily chart moving in a strong uptrend and currently, again price has given a breakout in the Pole and Flag pattern, now price can move towards the 50K level in the coming days as this is a strong breakout in the chart. Page Industries’ has support near the 42000 level on the chart. 

If Page Industries’ daily chart fails to move upside and if the price falls below the 42000 support level we can see some major fall in the chart as our pole and flag pattern will be invalid below the 40000 level. 

Eicher Motors Limited (EICHERMOT)-

Eicher Motors’ daily chart trading between the Rectangle pattern and now price trading near the middle line and now price formed the Dragonfly pattern and now if price able to break the 2650 level and trade above this we can see some major upside in the chart and this will lead us price towards the 2800 to 2900 levels with the help of 2550 support level on the chart. 

If Eicher Motors’ daily chart is not able to break the 2650 level and trade below this middle line of the rectangle pattern we can see some more consolidation between the 2650 to 2300 levels range. 

Dalmia Bharat Limited (DALBHARAT)-

Dalmia Bharat’s 120Min Chart trading in the Pole and Flag pattern, (March 2022 to April 2022) if price able to break the 1640 level and this will confirm the breakout in the patter and above this price can move towards the 1840 to 2000 levels in coming days with the help of 1560 support level on the chart. 

If Dalmia Bharat’s 120Min is not able to break the 1640 level and trade below this we can see some more consolidation between the 1500 to 1640 range. 

Adani Port Special Limited (ADANIPORTS)-

Adani Port Special’s daily chart has given a breakout in the strong rectangle pattern (Feb 2021 to Apr 2022) and now the price is moving upside as per the chart and strong candlestick along with volume. If Adani Port is able to break the 900 level and sustains above this we can see some major upside toward the 1000 to 1100 levels in the coming days with the help of the 825-850 support level on the chart. 

If Adani Port Special’s daily chart is not able to move upside and if the price falls below the 820 level we can see some major fall in the chart and this will lead us towards more consolidation between the 810 to 650 range. 

Mindtree Limited (MINDTREE)-

Mindtree’s daily chart trading at Major Horizontal support line and now price has formed the morning start here and now price is moving upside with strong volume, now price able to break the 3900 level and sustains above this we can see some major upside towards the 4200 to 4500 levels in coming days with the help of 3600-3500 support level on the chart.  

If Mindtree’s daily chart is able to hold the horizontal support level and if the price is able to break the 3600 level and trade below this we can see some major fall in the chart. 

Asian Paints Limited (ASIANPAINT)-

Asian Paints 240Min chart trading between the inverted head and shoulder pattern (Jan 2022 to Apr 2022) and now price trading near the neckline, if price able to break the 3200 resistance line and trade above this we can see some major upside towards the 3400 to 3550 levels post-breakout in the chart with the help of 3000 support level on the chart. 

If Price is not able to break the Neckline and price trades below the 3200 resistance level we can see some major consolidation between the 2950 to 3200 range. 

Breakdown Charts

Tata Steel Limited (TATASTEEL)-

Tata Steel’s daily chart trading between the Rectangle pattern and now price trading between the middle line and now price trade below the support line and now price falling with strong candlestick, now price can move towards the 1200 to 1100 levels in coming days with the help of 1320 resistance level on the chart. 

If Tata Steel’s daily chart trading near the middle line and now if price break the resistance level of 1320 level we can see some major upside and this will lead us price towards the resistance level in the rectangle pattern. 

Torrent Pharma Limited (TORNTPHARM)-

Torrent Pharma’s daily chart trading between the Rectangle pattern and inside pattern price is formed the Ascending Channel pattern and now the price has given a breakdown in the chart with strong volume and now price gains some from the lower side and if price able to break the 2675 support level and sustains below this we a see some major fall towards the 2500 to 2300 levels in coming days with the help of 2800 resistance level on the chart. 

If Torrent Pharma’s daily chart trading between the rectangle pattern and the current price is near the middle line, if the price is able to break the 2900 level we can see some major upside and this will lead us towards the resistance level of the rectangle pattern 3300 resistance level. 

State Bank of India Limited (SBIN)-

State Bank of India’s daily chart trading between the Rectangle Pattern and now price trading near the resistance level and price formed some strong dojis pattern and now price is formed the bearish marubozu pattern with strong volume and now price is falling towards the 480.00-450.00 levels in coming days with the help of 510-515 resistance level on the chart. 

If the State Bank of India’s daily chart fails to move downside and if the price is able to break the 520 level and sustains abvoe this we can see some upside towards the 540 resistance level of the Rectangle pattern.

Shriram Transport Limited (SRTRANSFIN)-

Shriram Transport’s daily chart moving in downside and price trading near the Diagonal support line of the Inverted Pole and Flag pattern, if the price is able to break the 1090.00 support level and falls below this we can see some major fall towards the 1000-900 levels in coming days with the help of 1150 resistance level on the chart. 

If Shriram Transport’s daily chart is not able to fall below the 1100 level and sustains above the support we can see some consolidation between the 1270 to 1100 consolidation zone.

AU Small Finance Limited (AUBANK)-

Au Small Finance’s daily chart trading between the Rectangle pattern and now price showing some strong indecisive nature with strong dojis pattern and now price trying to move downside with strong bearish candlestick and some volume, now price can move towards the 1240-1120 levels with the help of 1440 resistance level on the chart pattern. 

If Au Small Finance’s daily chart fails to move downside and not able to break the 1360 level and trade above the 1440 level we can see some major upside in the pattern with the help of 1360 support level. 

Jsw Steel Limited (JSWSTEEL)-

Jsw Steel Limited’s daily chart trading near the Horizontal Resistance Line and currently price reverse after forming the some dojis pattern near resistance and bearish marubozu pattern, now price moving downside, and now price have small support near the 720 level, if price able to break the 720 level and trade below this with strong volume and price, we can see some major fall towards the 660.00 to 600.00 level which is major support in horizontal line. 

If Jsw Steel Limited’s daily chart fails to move downside and price able to break the 780-790 level and trade above this we can see some major upside with the help of 725/735 support level on the chart. 

Cash Charts

Bombay Dyeing and Manufacturing Company Limited (BOMDYEING)-

Bombay Dyeing and Manufacturing weekly chart currently trading between the strong consolidation in range 40 to 120 levels. Price currently forming the Cup and handle pattern, and price moving upside with strong candle along with the strong volume, if price able to break the 125 level we will have fresh breakout in the cup and handle pattern, above breakout price can move towards the 180.00 to 260.00 levels in coming days with the help of 100.00 support level on the chart.

If Bombay Dyeing fails to move upside and if price not able to break the 125 level we can see some more consolidation between the 60 to 125 range.

If Price fails to move upside and price fall below the 70 level we can see some major fall in the chart. 

De Nora India Limited (DENORA)-

De Nora’s recent breakout in the pattern near 315 level is one of the finest example of strong consolidation breakout chart and price moved 300 to 517 level according to chart and now price has given breakout to the Pole and flag pattern with strong volume in the chart and price, now price can move towards the 620 to 700 levels in coming days, support near the 475 support level on the chart. 

If De Nora’s chart fails to move upside and price falls below the 450 level we can see some major fall in the chart and price can move towards the 350 support level.

If Price not able to move upside and fall below the 525 level we can see some more and major consolidation between the recent range of flag between 530 to 350 range. 

Navkar Corporation Limited (NAVKARCORP)-

Navkar Corporation’s daily chart has given breakout in the Rectangle Pattern (March 2019 to April 2022) with range of 3 Years and now price is moving upside in last 2/3 Weeks with strong volume from lower side and price is moving upside, now price can move towards the 90.00 to 140.00 levels in coming days with the help of 50.0-45.0 support level on the chart. 

If Navkar’s chart fails to move upside and price fall below the 50 level which is resistance level in the chart we can see again consolidation between the 20.00 support level to 50.00 resistance level. 

Archidply India Limited (ARCHIDPLY)-

Archidply India’s daily chart has given breakout in the 2022 level and now price again moving upside after the recent breakout and now price moving upside after the Diagonal resistance level with strong volume in last 2/3 days and now price can move towards the 75.00-100.00 levels in coming days with the help of 40.00 support level on the chart.

We can also read this pattern as the Cup and handle pattern and price resistance is near the 60.00 level and if price able to break the 60.00 level we can see some major upside in the chart and Handle’s support is near the 40.00 level on the chart. 

If Archidply’s daily chart not able to move as per bullish patterns and price falls below 40.00 level, cup and handle pattern will be invalid and price may fall towards the 20.00-10.00 levels.

Marathon Nextgen Limited (MARATHON)-

Marathon Nextgen’s daily chart has given breakout in the Curve Pattern (Apr 2019 to Apr 2022) Years consolidation and now price is moving upside with strong volume in last 2/3 weeks and now price can move towards the upcoming resistance levels 220-300 levels with the help of 100-120 support level on the chart. 

If Marathon Nextgen’s daily chart fails to move upside and if price able to break the 100 level we can see some fall in the chart and we can see some more consolidation between the 125 to 40 range which is big and strong range of Marathon Nextgen. 

Schneider Electronic Limited (SCHNEIDER)-

Schneider Electronic Limited’s weekly chart has given breakout in the Cup and handle Pattern (May 2017 to Apr 2022) after 5 years consolidation and now price moving with strong price formation along with the strong volume in Breakout candlesticks and we can see volume creation in 2020 to 2022 zone and now price can move towards the 190.00 to 220.00 levels in coming days with the help of 110.00/100.00 support level on the chart. 

If Schneider’s weekly chart fails to move according to cup and handle pattern and if price able to break the Handle’s low and trade below the 100 level we can see some major fall in the chart. 

Charts to Watch

Sbi Life Insurance Limited (SBILIFE)-

Sbi Life Insurance’s 240Min chart forming the possible Cup and Handle pattern, currently price trading in the handle pattern and now price is trying to move upside and now if price able to break the 1170 level and sustains above this with strong volume we can see some major upside towards the 1260 to 1295 levels and if price not able to break the resistance level we can see some more consolidation between the 1100 to 1170 levels for consolidation in the range. 

Mahindra and Mahindra Limited (M&M)-

Mahindra and Mahindra’s daily chart currently trading between the Rectangle Pattern (Dec 2021 to May 2022) and currently price trading between the range 960 to 725 levels and now if price able to break the 960 level and sustains above this we can see some more upside on the chart and support will be near the middle line of pattern near 840.00 support level and if Mahindra’s chart able to break the 840 level and fall below this we can see some fall towards the Rectangle’s support near 725 level and if price able to break the 725 level and falls below this we can see some major fall according to pattern and this may lead price towards the 600-520 levels.  

TPL Plastech Limited (TPLPLASTEH)-

TPL Plastech’s weekly chart forming the Cup and Handle pattern (2018 to 2022) and now price trading between the handle’s range and now price returning from the support with strong Doji’s and now price moving with strong candlesticks (Bullish Marubozu) and Volume, now price can move towards the 220 resistance level. If TPL Plastech’s weekly chart is able to break the 220 level and sustains above this we can see some major upside towards the 280.00 to 360.00 levels with the help of the 120.00 support level on the chart. 

Currently, TPL Plastech’s weekly chart is trading between the Handle’s range of 220 to 120 levels, and if the price is able to break this range we can see some major upside or major downside on the chart. 

Borosil Renewables Limited (BORORENEW)-

Borosil Renewables’ daily chart moving in strong upside and this stock basically moved in upper locks and lower locks, currently price trading at a fresh breakout in the Curve Pattern and price breakout with strong candlestick with strong volume, but price consolidation is low and this makes pattern strength is a little bit weak. Borosil Renwables’ chart can move towards the 850 to 950 levels in the coming days with the help of the 680/700 support level on the chart. 

Shree Renuka Sugar Limited (RENUKA)-

Shree Renuka Sugar’s Weekly chart moving as per the Rounding Bottom pattern (2012 to 2012- 10 Years Consolidation in Pattern) and the price moved from 42 to 61 level according to breakout level which is almost 50% from the breakout level and price moving with strong volume in last 3 weeks and still price can move towards the 90.00 to 120.00 levels in coming days and now price support moved to 40.00 level. 

Rajshree Sugar and Chemicals Limited (RAJSHREESUG)-

Rajshree Sugar and Chemicals weekly chart formed the cup and pattern formation (Jan 2018 to Apr 2022- 4 Years) and now price finally trading above this resistance level with some strong volume in last 3 weeks candlestick bar and now price moving upside and this may push price towards the 52.00 to 68.00 levels with the help of 25 Support (Handle’s Low).

Chart trading with low volume makes stocks illiquid and these charts of stocks are easy to speculate and due to this technical analysis may face some strong issues. 

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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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