BlogChartBook184th ChartBook

184th 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 moving downside from upside and now price hit 52 Week on Friday’s movement, and price formed some indecisive candlestick here, and if the price is able to claim 15500 level again and sustains above this we can see some major upside towards the 16000 which is gap resistance on the chart and if prie is able to maintain above this 16000 level we can see some major upside towards the 16600 levels with the help of 15200 support level. 

If Nifty’s daily chart cannot move upside down and the price can break the 15200 level, we can see some major fall towards the 14800 to 14400 levels post breakdown with the help of the 15400/500 resistance level on the chart. 

Nifty Bank-

Nifty Bank’s daily chart trading near major Horizontal Line and now price formed the Piercing Pattern and now price is trying to bounce in near time, but movement will be not good and we need to wait and watch for next movement, if the price is able to break the 32200 level and sustains below this we can see some major fall towards the 31000 to 30000 levels and in case price is able to hold support we can see some bounce and next resistance is near 34000 level. 

If Nifty Bank’s daily chart is able to break the 34000 level and sustains above this we can see some major upside toward the 35000 resistance level on the chart. 

Nifty Financial Service-

The Nifty Financial Service’s daily chart trading inside the Rectangle pattern and now price formed the Piercing Pattern and this is an indication of movement, and now we need to wait for the breakout, if the price can break the 15600 level and sustains above this we can see some major upside towards the 16800 levels with the help of 14800 support level on the chart. 

If Nifty Financial Service’s daily chart, is not able to move upside and the price fall below the 14700 level and sustains below this we can see some major fall towards the 13800/13000 levels with the help of 15300/400 resistance level on the chart. 

Nifty Auto-

Nifty Auto’s daily chart trading between the Rectangle Pattern and now price is reversing from resistance level now price can move towards the 10400 to 9600 levels in coming days with the help of 11200 resistance level on the chart, and if the price is not able to move downside and price can sustain above the 11000 level we can see some major upside towards the 11400 to 11800 levels with the help of 10700 support level on the chart. 

Nifty Pharma-

Nifty Pharma’s daily chart trading inside the inverted Cup and Handle pattern and now price is moving downside with the strong candlestick in last two days, and now price can move towards the 11200 level and this level will be important to watch, as if the price is able to break the 11200 level and sustains below this we can see some major fall towards the 10400/9800 levels with the help of 12000 resistance level on the chart. 

Nifty FMCG-

Nifty FMCG’s daily chart trading between consolidation range and this is forming the possible Rectangle Pattern between the 39000 resistance level and 36000 support level. Currently, the price is trading near the 36000 support level and sustains below this level we can see some major fall towards the 35000 to 34000 levels with the help of the 36500 resistance level on the chart. 

If Nifty FMCG’s daily chart is not able to break the support level we can see more consolidation between our rectangle range 39000 resistance level to 36000 support level. 

Nifty IT-

Nifty IT’s daily chart trading near the Horizontal Support level and now price formed indecisive candlestick pattern with island gap, if the price can break the 27000 level and sustains above this we can see some major upside towards the 29000 to 31000 levels with the help of 26500 support level on the chart, if the price can break the 26500 level and sustains below this we can see some major fall towards the 25000-24500 levels. 

Breakout Charts

Icici Bank Limited (ICICIBANK)-

ICCI Bank’s daily chart is trading near a major horizontal support level, and now the price formed the bullish (Piercing) candlestick pattern, now price can move upside, but we need more confirmation above the 700 level, if the price is able to break the 700 level and sustains above this we can see some major upside towards the 730 to 770 levels with the help of 680 support level on the chart.

If ICICI Bank’s daily chart not able to move upside from support and able to break the 670 level and sustains below this we can see some major fall towards the 640 to 620 levels with the help of 690 resistance level on the chart. 

Delta Corporation Limited (DELTACORP)-

Delta Corporation’s daily chart trading near major Horizontal support level and chart formed strong volume ever with strong price movement, now price just need small confirmation for upside, if price is able to break the 190.00 level and sustains above this we can see some major upside towards the 220.00 to 250.00 levels with the help of 170.00-165.00 support level on the chart. 

If Delta Corporation’s daily chart not able to confirmation of upside and trade below 190 level we can see more consolidation between our big candlestick range 190 to 165 support level. 

Sun TV Network Limited (SUNTV)-

Sun Tv Network’s daily chart trading near major horizontal Support inside the Rectangle Pattern, now price is moving upside with some consolidation and now price is trying to move upside and price is able to sustains above the 445 level we can see some major upside towards the 481 to 540 levels with the help of 420.00/400.00 support near the chart. 

If Sun TV Network’s daily chart not able break the 445 resistance level we can see some more consolidation between the 445 to 400 level, and incase price is not able to move upside and price trade below the 400 level we can see some major fall in the chart with the help of 430 resistance level on the chart. 

Intellect Design Limited (INTELLECT)-

Intellect Design’s daily chart trading near the major support in Horizontal Line, and now price is trying to move upside with bullish engulfing pattern, and if price is able to break the 631 level and sustains above this we can see some major upside towards the 700.00 to 800.00 levels post breakout with the help of 600.00 support level on the chart. 

If Intellect Design’s daily chart not able to move upside and price below the 580 level we can see some major fall with the help of help of 630 resistance level on the chart. 

NBCC (India) Limited (NBCC)-

NBCC’s daily chart trading near the major horizontal support line, and price again formed chart same as recent time, now price is moving upside with piercing pattern, now price can move upside towards the 32.00 to 40.00 levels with the help of 28.00 support level on the chart. 

If NBCC’s daily chart not able to bounce from support and incase price fall below the 27.00 level we can see some major fall towards the 22.00-18.00 levels with the help of 30.00 resistance level on the chart. 

JSW Steel Limited (JSWSTEEL)-

JSW Steel’s daily chart trading near the major horizontal support line, and now price is consolidating near the range 520 to 580 levels, if price is able to break the 580 level and sustains above this we can see some major upside towards the 640 to 680 levels with the help of 540 support level on the chart. 

If JSW Steel’s daily chart not able move upside and price fall below the 520 level we can see some major fall towards the 490.00 to 460.00 levels with the help of 560.00 resistance level on the chart. 

Breakdown Charts

Escorts Limited (ESCORTS)-

Escorts’ daily chart fall below the major support level, and now price is moving downside with strong volume & strong price. If price is able to break the 1500 level and sustains below this we can see some major fall towards the 1440 to 1360 levels with the help of 1530/1540 resistance level on the chart. 

If Escorts daily chart not able move downside and incase price is able to claim 1540 level we can see some upside and fresh consolidation between the rectangle range 1650 resistance level to 1520 support level. 

Balrampur Chini Limited (BALRAMCHIN)-

Balrampur Chini’s daily chart formed a possible inverted pole and flag pattern and now price is moving downside with last two days, and if price able to break the 350.00 level and sustains below this we will have a fresh breakdown, and price can move towards the 300 to 240 levels with the help of 370-380 resistance level on the chart. 

If Balrampur Chini’s daily chart is not able to move downside and sustains above the 350.00 level we can see some more consolidation between the range 350 support level to 420 resistance level. 

SBI Cards & Payment Limited (SBICARD)-

SBI Cards & Payment Limited’s daily chart has given a breakdown in Inverted Cup and Handle Pattern, now price moving downside with strong volume as well as strong price in last few days, now price can move towards the 600.00 to 560.00 levels in coming days with the help of 720.00 resistance level on the chart. 

If SBI Cards’ daily chart is not able to move downside and incase price can sustains above the 720 level we can see some major upside in the chart and consolidation will inside the range 880 resistance level to 720 support level. 

Titan Company Limited (TITAN)-

Titan’s daily chart has given the breakdown in inverted pole and flag pattern, with strong volume and price, now price can move towards the 1800 to 1700 levels in coming days with the help of 2000 resistance level on the chart. 

In case the price is not able to move downside and price sustains above the 2060 level and sustains above this we can see some more consolidation between the 2300 resistance level and to 2060 support level on the chart after claiming 2060 level.  

Laurus Labs Limited (LAURUSLABS)-

Laurus Labs’ daily chart formed an inverted curve pattern & now price is falling with strong volume in last few days along with strong price, now price have only one support near 440 level if price able to break the 440 level and sustains below this we can see some major fall towards the 360.00 to 320.00 level according to chart with the help of 480.00 resistance level on the chart. 

In Case the price is not able to move downside & the price sustains above the 440 support level we can see some more consolidation between the 440.00 support level to 630 resistance level on the chart. 

Pidilite Industries Limited (PIDILITIND)-

Pidilite Industries’ daily chart has given the breakdown in the Curve pattern with strong volume in Friday’s candlestick with strong price, now price can move towards the 1900.00-1800.00 levels in coming days with the help of 2050.00 resistance level on the chart. 

If Pidilite Industries’ daily chart is not able to move downside and able to claim the price 2050 level we can see some more consolidation between the 2250 resistance level to the 2050 support level after price movement. 

Bullish Cash Charts

Mahamaya Steel Limited (MAHASTEEL)-

Mahamaya Steel’s weekly chart is trading near the major Horizontal Support level which is formed by the last 5-year consolidation, and now the price is trying to bounce from support with some strong volume in price with the strong price. If the price is able to break the 72-73 level and sustains above this we can see some major upside towards the 100.00 level and in case the price is able to break the 100 level we can see some strong upside towards the 140 to 200 levels according to big Rectangle Formation inside the pattern. 

FIEM Industries Limited (FIEMIND)-

FIEM Industries’ daily chart moving according to Cup and Handle pattern with strong volume formation on Friday and now the price is trying to move upside towards the 1280.00 to 1380.00 levels in the coming days with the help of 1070.0 support level on the chart. 

If FIEM Industries’ daily chart is not able to move upside and the price fall below the 1040.00 level we can see some major fall and this will lead to price consolidation between the 980.00 support level to 1050.00 resistance level. 

MRO-TEK Realty Limited (MRO-TEK)-

MRO-TEK Realty’s weekly chart looking good and now price formed good looking pattern which is a double bump pattern and the price is trading near the resistance level, if the price is able to break the 73.00 level and sustains above this we can see some major upside towards the 110.00 to 135.00 levels with the help of 50.00/60.00 support level on the chart. 

MRO-Tek is low volume stock that trades with less liquidity in day-to-day trades. 

If MRO_TEK failed to move upside and trade below the 73.00 level we can see some more consolidation between the 45.00 support level to 75.00 resistance level on the chart. 

Apar Industry Limited (APARIND)-

Apar Industry’s weekly chart has given breakout in Cup and handles pattern with strong volume in Friday’s candlestick, now price can move towards the 1050 to 1150 levels in coming days with the help of 880.00 support level on the chart. 

If Apar Industry’s weekly chart is not able to move upside and incase price fall below the 850 support level we can see some major fall and this will lead to consolidation between the 850 resistance level to 600 support level in the price. 

Asahi India Glass Limited (ASAHIINDIA)-

Asahi India’s daily chart forms the Inverted Head and shoulder pattern and the price is moving upside with strong volume and price. Currently, the price is trading near the Neckline pattern, and in case the price is able to break the 480.00 level and sustains above this we can see some major upside towards the 560.00-600.00 levels in the coming days with the help of 450.0-460.00 support level on the chart. 

If Asahi India’s daily chart is not able to move upside and trade below the 480 resistance level we can see some more consolidation between the 490 resistance level to 410.00 support level on the chart. 

Charts to Watch

Muthoot Finance Limited (MUTHOOTFIN)-

Muthoot Finance’s daily chart has given a breakdown in curve pattern and now price is moving downside with strong volume at price. Currently, the price is trading near the 1000 level and if the price sustains above the 1000 level we can see some bounce in case the price is able to break the 1100 level we can see some major upside, and if the price is not able to move upside and fall below the 980 level we can see some major fall in the chart with the help of 1030/1040 resistance level on the chart. 

Jubilant Foodworks Limited (JUBLFOOD)-

Jubliant Foodworks’ daily chart forming an inverted cup and handle pattern and now price falling from last two days, and now price is moving downside with strong volume and price, now if the price is able to break the 450.00 level we will have a fresh breakdown in the chart and price can move towards the 400.00-360.00 levels in coming days with the help of 500.00-520.00 resistance level on the chart. 

If Jubliant Foodwork’s daily is not able to break the support and able to sustain above the 450 level we can see some more consolidation between the 600.00 resistance to 450.00 support level on the chart. 

Indus Tower Limited (INDUSTOWER)-

Indus Tower’s daily chart bounced from the support level and now the price is consolidating near the resistance level 210-208 level with strong volume, if the price is able to break the 210-212 level and sustains above this we can see some major upside towards the 240.00-270.00 levels in coming days with the help of 200.00 support level on the chart. 

If Indus Tower’s daily chart is not able to break the 212 resistance level we can see some more consolidation between the 212 resistance level to 180.00 support level on the chart. 

Commodity Charts

Aluminum-

Aluminum’s daily chart after its recent fall now trading near the major support level 200-203 level and now the price will take support near this level and in case the price is able to break the level we can see some major fall in the chart. 

If Aluminim’s daily chart is not able to move downside and is able to hold the 200 level we can see some possible bounce from support and we can see some consolidation between the 240 resistance level and 200 support level. 

Crude Oil-

Crude Oil’s 4H chart falling from its recent high and now the price is moving downside but volume is not strong. Crude Oil can move towards the 8200 to 7800 levels in the coming days with the help of the 8800 resistance level on the chart. 

If Crude Oil’s 4H Chart is not able to move downside and the price is able to sustain above the 9000 level we can see some more consolidation between the 9800 resistance level to 8800 support level on the chart. 

Copper-

Copper’s daily chart has given a breakdown in Ascending Channel pattern and now price is moving downside with strong volume and price. Currently, the price is trading near the 740 support level and sustains below the 740-738 support level sustains below this we can see some major fall towards the 700 to 680 levels with the help of the 760 resistance level on the chart. 

If Copper’s daily chart is not able to break the 740 level and sustains above this we can see some more consolidation between the 800 resistance level to the 740 support level. 

Lead-

Lead’s daily chart trading between the Rectangle Pattern and this is consolidating between the 192 resistance level to 180 support level on the chart. If Lead’s chart is able to break the 180 level and sustains below this we can see some major fall towards the 172 to 168 level and in case price is able to break the 192 level we can see some major upside in 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 Advisors & Research Analysts.

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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