BlogChartBook178th ChartBook

178th 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 60Min chart clearly shows us the range of Nifty and currently, the price is trading between the 17450 to 16850 levels in the Rectangle Range, If the price is able to break the resistance we can see some major upside in the chart and if the price is able to break the 16850 level and sustains below this we can see some major fall in the chart. 

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 34000 to 32000 levels with the help of 36700 resistance line in the chart. 

If Nifty Bank’s daily chart fails to move fall below the 36000 level and the price is able to break the 37000 resistance level and trade above this we can see some major upside in the chart and the price can move towards the 38000 to 39000 levels in coming days with the help of 36000 support level on the chart. 

Nifty IT-

The Nifty IT’s daily chart recently perfectly moved as per the Rising wedge pattern and now price trading near the major support level near the 31300 level and if price able to break the 31300 level and trade below this we can see some major fall towards the 30000 to 29000 levels with the help of 32500 resistance level on the chart and as price trading near the sup[port and level and price able to break the 32600 level and trade above this we can see some major upside towards the 34000 to 35000 levels with the help of 31300 support level on the chart. 

Nifty Auto-

Nifty Auto’s chart was strong in recent time and now price formed the bearish dark cloud pattern and now price able to break the 10800 support level and trade below this we can see some major fall towards the 10500 to 10200 levels and if price able to break the 11200 level and trade above this we can see some major upside towards the 11600 to 12000 resistance level which is resistance in a rectangle pattern. 

Nifty FMCG-

Nifty Fmcg’s daily chart trading in between the cup and handle pattern and now price trading near the 38500 to 39000 resistance zone, and this will create zone issue for a breakout in pattern and if price fails to break these levels and trade below the 38000 level we can see some more consolidation between the 39000 to 35000 range. 

Nifty Realty-

Nifty Realty’s daily chart trading between the Rectangle Pattern and price perfectly reversed from the middle line and now price trading near some support and if price able to break the 425 level and trade below this we can see some major fall towards the 400 support level which is support level in the Rectangle pattern. 

If Nifty Realty’s chart is able to break the 400 level and trade below this we can see some major fall towards the 3600-340 levels due to the rectangle pattern. 

Nifty Media-

Nifty Media’s daily chart trading between the Rectangle Pattern and currently price reversing from the middle line and price is falling with strong candlesticks on the chart and this will lead the price towards the 2000 to 1930 levels with the help of 2200 resistance levels on the chart and if the price is able to break the 2200 level and trade will be in the good range and price will be in fresh range 2200 to 2500 levels. 

Breakout Charts

Metropolis Health Limited (METROPOLIS)-

Metropolis Health’s 240Min chart trading between the Rectangle pattern or pole and flag pattern, now if price able to break the 26600 level and trade above this we can see some major upside in the chart and this may lead us towards the 3100 to 3400 levels in coming days with the help of 2300 support level on the chart. 

Currently, the price is trading between the range, and if the price is not able to break the resistance level we can see some major consolidation between the 2300 to 2600 levels and a breakdown below this 2300 level on the chart. 

Deepak Nitrite Limited (DEEPAKNTR)-

Deepak Nitrite’s daily chart forming the inverted head and shoulder pattern, and now price gaining strength here, if price able to break the 2400 level and trade above this we can see some major upside towards the 2600 levels with the help of 2200 support level on the chart. 

If Deepak Nitrite’s daily chart fails to break the resistance level we can see some more consolidation between the 2400 to 2150 range and if the price is able to break the 2150 level and trade below this we can see a major fall in the chart. 

Multi Commodity Exchange Limited (MCX)-

Multi Commodity’s chart forming the cup and handle pattern and we have seen some strong volume in last two bars and now price moving upside, if price able to break the 1500 to 1480 level we can see some major consolidation between the 1640-1760 levels with the help of 1360 support level on the chart. 

If MCX’s chart fails to move upside and trade below this 1480 resistance level we can see some more consolidation between the 1320 to 1500 levels. 

Indian Hotels Limited (INDHOTEL)-

Indian Hotels’ daily chart moving upside after the strong Rectangle pattern and now price trading between the rectangle pattern, if the price is able to break the 260 level and trade above this we can see some major upside towards the 280-300 levels in coming days with the help of 240-245 support level on the chart. 

If Indian Hotel’s daily chart fails to move upside and trade below the 260 level we can see some more consolidation between the 230 to 260 consolidation range. 

Indiamart Intermesh Limited (INDIAMART)-

Indiamart Intermesh’s 240Min chart trading in inverted the head and shoulder pattern and now price trying to bounce here and now price able to break the 5000 level and trade abvoe this we can see some major upside in the chart and this will move toward the 5800-6600 levels with the help of 4600 support level on the chart. 

if Indiamart’s chart fails to move upside and is not able to break the 5200 level we can see some more consolidation between the 4500 to 5000 range.

Bearish Charts

Axis Bank Limited (AXISBANK)-

Axis Bank’s daily chart trading between the Rectangle pattern and now price reversing from resistance with strong volume in the chart and now if price able to break the 720.00 level and trade below this we can see some major fall towards the 660 to 640 levels post breakdown with the help of 760 resistance level on the chart. 

If Axis Bank’s daily chart fails to break the 720 level we can see more consolidation between big candlestick as well as the 720 to 820 range. 

Mahanagar Gas Limited (MGL)-

Mahanagar Gas’ daily chart trading between the ascending channel pattern and now price falling with strong candlestick along with strong volume, now price can move towards the 720-670 levels in coming days with the help of 800-780 resistance levels on the chart. 

If Mgl’s daily chart fails to move downside and if the price is able to break the 800 level we can see some upside in the chart and the price will consolidate between the 840 to 800 range and if the price is able to break the 840 level and trade above this we can see some major upside in the chart with the help of 800 support level. 

Gujarat Gas Limited (GUJGASLTD)-

Gujarat Gas’s limited chart trading in the head and shoulder pattern or the cup and handle pattern, if price able to break the 480 level and trade below this we can see some major fall towards the 420-380 levels with the help of 500 resistance level on the chart. 

Gujarat Gas’ daily chart if fails to move downside and trade above the 520 level we can see some major upside in the chart with the help of the 480 support level the chart. 

Hindustan Petroleum Limited (HINDPETRO)-

Hindustan Petroleum’s daily chart is moving downside along with a strong candlestick pattern and now the price is falling along with strong volume, if price able to break the 260 level we can see some major downside towards the 250-230 levels with the help of 280 resistance level on the chart. 

If Hindustan Petroleum’s daily chart fails to move downside we can see some more consolidation between the big candlestick and if the price is able to break the 290 level and trade above this we can see some major upside in the chart.  

Dr. Lal Pathlabs Limited (LALPATHLAB)-

Dr. Lal Pathlabs’ 240 Min chart has given a breakdown in the rising wedge pattern and now the price can move towards the 2400-2300 levels in the coming days with the help of the 2700-2750 resistance level on the chart. 

If Dr. Lal Pathlabs’ chart fails to move downside and if the price is able to break the 2800 level and trade above this we can see some major upside in the chart stock can move towards the 3100-3400 levels with the help of the 2650 level. 

Ambuja Cement Limited (AMBUJACEM)-

Ambuja Cement’s 240Min chart is trading near the major resistance level and now the price is reversing with a strong candlestick pattern along with strong volume, now price can fall towards the 350.00-320.00 levels with the help of the 390 resistance level on the chart. 

If Ambuja Cement fails to move downside and if the price is able to break the 390 level and trade above this we can see some major upside in the chart and the price can move towards the 420-440 levels with the help of the 360 support level. 

Cash Charts

Grauer & Well (india) Limited (GRAUWELL)-

Grauer and Well’s weekly chart has given a breakout in the cup and handle pattern with some strong volume in the chart and now if the price is able to break the 75.00 level we can see some major upside in the chart and stock will move towards the 90.00-110.00 levels with the help of 65.00 support level on the chart.  

If Grauer & Well’s chart fails to move upside and the price fall below the 65.00 level we can see some more consolidation between the 65.00 to 50.00 range in the chart.

Hov Services Limited (HOVS)-

Hov Services’ weekly chart moving to the upside with strong volume and now the price is able to break the 80.00 level and trade above this we can see some major upside towards the 140.00 to 240.00 levels with the help of 50.00-60.00 support level on the chart. 

If Hov Services’ weekly chart is not able to break the 80.00 level we can see some more consolidation between the 40.00 to 80.00 range. 

Aptech Limited (APTECH)-

Aptech’s 240Min chart trading in strong price and strong volume in recent price, and price forming the Cup and handle pattern, if price able to break the 380.00 level and trade above this we can see some major upside towards the 420.00-440.00 levels with the help of 350.00 support level. 

If Aptech’s 240Min is not able to break the resistance and trade below this 380 level we can see some consolidation between the 380.00 to 320 range. 

Shanti Gears Limited (SHANTIGEAR)-

Shanti Gears’ daily chart perfectly moved as per the our Sniper chart and now price has given a breakout in the curve pattern and now the price is moving upside with strong volume and now the price has support near 205 support level. 

If the Price is not able to move upside and if the price trades below the 210 level we can see some major fall in the chart and consolidation will be between the 210 to 160 range. 

Rupa & Company Limited (RUPA)-

Rupa and Company’s daily chart trading between the Rectangle pattern and now price moving with strong volume and price, if price able to break the 560 level and trade above this we can see some major upside in the chart, and price can move towards the 600-650 levels with the help of 500 support level. 

If Rupa’s chart fails to move upside and trade below the 560 level we can see some more and strong consolidation between the 560 to 400 range. 

Charts to Watch

Varroc Engineering Limited (VARROC)-

Varroc Engineering’s daily chart trading between the strong range 250.00 to 450.00 range and now volume start forming and if price able to break the 500 level and trade above this we can see some major upside towards the 650 to 850 levels with the help of 400 support level and if price not able to break the 500 level we can see trade between the 500 to 250 range and this will be fund to watch range consolidation. 

Kotak Mahindra Bank Limited (KOTAKBANK)-

Kotak Mahindra’s 240Min chart forms the falling wedge pattern and now the price trying to break out of the range and now if the price is able to break the 1810 level and trade above this we can see some major upside toward the 1900-2000 levels with the help of 1760 support level. 

If Kotak Bank’s 240Min chart fails to move upside and trade below the 1750 level we can see some fall and consolidation between the 1780 to 1670 range.  

Coforge Limited (COFORGE)-

Coforge’s Daily chart trading at the Horizontal Support line 4000 and now price consolidate at support and now price trying to reverse with strong volume, If price able to break the 4250 level and sustains abvoe this we can see some upside towards the 4800 to 5200 levels with the help of 4000 support level. 

If Coforge’s daily chart is not able to sustain above 4000 level and price trade below 4000 level we can see some major fall in the chart with the 4200 resistance level on the chart. 

Gillette India Limited (GILLETTE)-

Gillette’s weekly chart is trading at a major Horizontal Support line and now the price trying to reverse from support along with strong volume and now If the price is able to sustain above the 5400 level we can see some major upside towards the 6200 to 7400 to 8000 levels with the help of 4800 support level on the chart. 

If Gillette’s weekly chart is not able to move upside and prices fall below the 4800 level we can see some major fall in the chart. 

Alicon Castalloy Limited (ALICON)-

Alicon Castalloy’s daily chart trading in rectangle pattern and now price taking support at the horizontal line along with strong volume in last two days. If the price is able to break the 761 level and trade above this we can see some major upside towards the 800 to 950 levels with the help of the 650 support level. 

If Alicon’s daily chart fails to move upside and the price is able to break the 650 level and trade below this we can see some major fall towards the 500 to 400 levels. 

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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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