BlogChartBook186th ChartBook

186th 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 is trading inside the Rectangle range after a substantial fall from the upside and taking support at the horizontal line. Price is trading inside the range 15200 support level and 15900 level, we can see more consolidation between this range and price is trying to move upside with dragonfly Doji and now price can move upside, and if the price is able to break the 15900 level and sustains above this we can see some significant upside towards the 16300 level which is created by the gap zone, and incase price is able to break the 16300 level and sustains above this we can see some major upside towards the 16700 to 16800 levels in the chart. 

If Nifty’s daily chart is not able to break the resistance level we can see some more consolidation between the 15900 resistance level and to 15200 support level, and in case the price is able to break the 15200 level and sustains below this we can see some major fall in the chart. 

Nifty Bank-

Nifty Bank’s daily chart trading near major Horizontal Line and now price formed the bullish candlestick patterns and now price is trying to bounce in near time, but movement will be not good and we need to wait and watch for the 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 Metal-

The Nifty Metal’s daily chart is able to break the major support level and now price trading near some indecisive candlestick patterns and finally price able is to hold the 4450 support level, and now price is forming the piercing pattern in the chart, and in case the price is able to break the 4800 level and sustains above this we can see some major upside towards the 5100 to 5400 levels in coming days with the help of 4600.00 support level on the chart. 

If Nifty Metal’s daily chart is not able to move upside and the chart falls below the 4450 level and sustains below this we can see some major fall in the chart and this may lead source towards the 4000-3800 levels with the help of 4800 resistance level on the chart. 

Nifty Auto-

Nifty Auto’s daily chart trading between the Rectangle Pattern, now price is trading near important resistance line, and price trying to move upside, just price need to break the 12000 level which is psychological as well technical resistance level to watch. If price is able to break the 12000 level and sustains above this we can see some major upside towards the 12800-13600 levels in coming days with the help of 11600 support level on the chart. 

If Nifty Auto’s daily chart is not able to break the resistance level and trade below the resistance line we can see more consolidation between the 12000 resistance level to 10400 support line in the chart. 

Nifty FMCG-

Nifty FMCG’s daily chart trading inside the Cup and handle Pattern, and now price is trading near the resistance level and trying to break the resistance level, and in case the price is able to break the 39000 level and sustains above this we can see some major upside towards the 40800-42000 levels in coming days with the help of 37600 support level on the chart. 

If Nifty FMCG’s daily chart is not able to break the 39000 resistance level and sustains below this level we can see some more consolidation between the 36000 support level to 39000 resistance level on the chart. 

Nifty IT-

Nifty IT’s daily chart bounced from support and now price consolidating between the fresh range with 26500 support level to 28500 resistance level, if Nifty IT’s daily chart is able to break the 28500 level and sustains above this we can see some major upside towards the 30000 to 33000 levels with the help of 27500 support level on the chart. 

If Nifty IT’s daily chart is not able to move upside and trade below the 28500 resistance level we can see some more consolidation between the 28500 resistance to 26500 support level on the chart. 

Nifty Financial Services-

Nifty Financial Services’ daily chart trading inside the rectangle pattern, & currently, price trading near support zone with some consolidation between the 14800 support level to 16000 resistance level. If the price is able to break the 16000 level and sustains above this we can see some strong upside towards the 17200 to 18800 levels in coming days with the help of 14800 support level on the chart. 

If Nifty Financial Services’ daily chart not able to move upside and trade below the 14800 level and sustains below this we can see some major fall towards the 13600 to 12800 levels with the help of 15200 resistance levels on the chart.  

Nifty Realty-

Nifty Realty’s daily chart is trading near the major horizontal support line and now the price is trying to bounce from the support with the help of the marubozu pattern, and now if the price is able to break the 395 level and sustains above this we can see some major upside towards the 435 to 470 levels with the help of 375 support level on the chart. 

If Nifty Realty’s daily chart is not able to move upside and trade below the 370 level we can see some major fall towards the 340 to 310 levels with the help of the 400 resistance level on the chart. 

Breakout Charts

Dr. Lal Pathologies Limited (LALPATHLAB)-

Dr. Lal Path Labs’ daily chart bounced from the major support from 1800 to 1760 level and now price is moving upside, but volume is not good, and currently, price is trading near some resistance level and if the price is able to break the 2250 level and sustains above this we can see some major upside towards the 2600 to 2900 levels with the help of 2100 support level on the chart.  

If Dr. Lal Path Lab’s daily chart is not able to move upside and trade below the 2250 level, we can see some more consolidation between the 2250 level to 1800 support level on the chart. 

Federal Bank Limited (FEDERALBNK)-

Federal Bank’s 4H Chart trading above breakout in Double Bottom Pattern with strong price along with volume, now price can move towards 100.00-105.00 levels with the help of 90.00 support level on the chart. 

If Federal Bank’s 4H Chart not able to move upside and trade below the 93.00 level we can see some more consolidation between the 92.00 to 84.00 support level on the chart.

ITC Limited (ITC)-

ITC’s daily chart trading at a fresh breakout in Pole and Flag pattern with strong volume and price, and now price is trying to move towards the 310.00-320.00 levels in coming days with the help of 270.00 support level on the chart. 

If ITC’s daily chart is not able to move upside and trade below the 270 level we can see some more consolidation between the 250 support to 280 resistance level on the chart. 

If ITC’s daily chart is not able to hold our 250 support level, below this we can see some major fall towards the 230.00-200.00 levels. 

Berger Paints Industries Limited (BERGEPAINT)-

Berger Paints’ daily chart is trading at a strong consolidation zone, and now the price is trying to bounce with a strong morning start pattern with strong volume. If Price is able to break the 600 level we will have fresh reversal confirmation on the chart and above this, we can see some major upside towards the 650.00 to 700.00 levels with the help of the 560 support level on the chart.

If Berger Paints’ daily chart failed to move upside and trade below the 560 level we can see some major fall in the chart, below this we can see some fall towards the 500 to 450 levels with the help of the 600 resistance level on the chart. 

Ambuja Cement Limited (AMBUJACEM)-

Ambuja Cement’s daily chart has given a breakout in the pennant pattern with a strong price, but volume is missing so we need to wait here for more confirmation on the chart. If Ambuja Cement’s daily chart is able to break the 370 level and sustains above this we can see some major upside towards the 400.00 to 430.00 levels in the coming days with the help of the 360.00-350.00 support level on the chart. 

If Ambuja Cement’s daily not able to move upside and price trades below the 350.00 level and sustains below this we can see some major fall towards the 330.00 to 300.00 levels with the help of 375 resistance level on the chart. 

Rec Limited (RECLTD)-

Rec’s daily chart has given a fresh breakout in the Descending Channel pattern with strong volume in last two candlestick and the recent price is too much strong, which will lead price to move upside towards the 135.00 to 150.00 levels with the help of 117.00 support level on the chart. 

If Recltd’s daily chart is not able to move upside and trade below the 10 levels we can see some more consolidation between the 110 support level to 120 resistance level on the chart. 

Breakdown Charts

Gail Limited (GAIL)-

Gail’s daily chart trading inside the Rectangle pattern and the current price is trading near the support level with strong volume in the last 2-3 days. If Gail’s daily chart fell below 125 levels we can see some major fall towards the 112-100 levels with the help of 140 resistance levels on the chart. 

if Gail’s daily chart is able to hold the 125 support level and trade between the 168 resistance level to 125 support level we can see some more consolidation in the chart. 

Honeywell Auto Limited (HONAUT)-

Honeywell Auto’s daily chart currently trading at an important level of Inverted pole and flag pattern, and below 32800 level and sustains below this we can see some major fall towards the 30000 to 28000 levels in coming days with the help of 33500 resistance level on the chart. 

If Honaut’s daily chart is not able to move downside and hold the 32500 level and sustains above this we can see some more consolidation between the 32500 to 35000 range, and above the 35000 level, we can see some major upside in the chart. 

Oil India Limited (OIL)-

OIL’s 4H chart trading at Horizontal Support level and currently price falling with strong volume in last 2 candlesticks and in case price fall below the 210 level we can see some more downside towards the 200 to 170 levels with the help of 220-225 resistance level on the chart. 

If OIL’s daily chart not able to move downside and hold 210 support level we can see some more consolidation between the 250 to 210 range. 

Powergrid Corporation Insurance Limited (POWERGRID)-

Powergrid’s daily chart trading in Descending Channel Pattern and currently price trading near important level and below the 204 level we can see some more fall towards the 192-183 levels with the help of 212 resistance level on the chart pattern. 

If Powergrid’s daily chart is not able to move downside and able to hold the 212 resistance level above this we can see some more consolidation between the 250 resistance level to 205 support level on the chart. 

Bullish Cash Charts

TPL Plastech Limited (TPLPLASTECH)-

TPL Plastech’s daily chart forming the Cup and Handle Pattern, currently, price trading near the Diagonal Resistance level, if the price is able to break the 162.00 level and sustains above this we can see some major upside towards the 220.00 resistance level in the chart & if the price is able to break the 220.00 resistance level and sustains above this we can see some major upside towards the 300.00-350.00 levels with the help of 150.00-140.00 support level on the chart. 

If Tplplastech’s daily chart is not able to move upside and trade below the 160 level we can see some possible consolidation between the 110.00 to 165.00 levels. 

Motor and General Finance Limited (MOTOGENFIN)-

Motor and General Finance’s chart is illiquid stock with almost trade volume. Stock’s chart trading with big Rectangle Pattern 12.00 support level to 32.00 resistance level. Currently, the price is trading above the rectangle pattern and if the price is able to break the 35.00 level and sustains above this we can see some major upside toward the 50.00 to 55.00 level with the help of the 25.00 support level on the chart. 

If Motor and General Finance’s weekly chart is not able to move upside and fall below the 26.00 level we can see some more consolidation between the 32.00 level to 10.00 range. 

Bosch Limited (BOSCHLTD)-

Bosch Limited’s daily has given breakout in Double Bottom pattern with last three candlesticks patterns with the help of volume and now price can move towards the 17600-18800 levels with the help of 15000 support level on the chart. 

If Bosch Limited’s daily chart is not able to move upside and trade below the 15000 level we can see some more consolidation between the 15000 level to 13200 support level on the chart. 

Ruchira Papers Limited (RUCHIRA)-

Ruchira Papers’ daily chart trading inside the cup and handle pattern and now last 3 days volume and price indicating some bullish movement, and currently price can move towards the 130 level in coming days with the help of 90.00 support level on the chart. If Ruchira’s daily chart is able to break the 130.00 level and sustains above this we can see some major upside towards the 180.00 to 210.00 levels with the help of the 100.00 support level on the chart. 

If Ruchira’s daily chart is not able to move upside and trade below the 100 level we can see some more consolidation between the 85 to 100 range. If the price fall below the 80 levels we can see some major downside in the chart. 

Monte Carlo and Fashion Limited (MONTECARLO)-

Monte Carlo and Fashion’s daily chart trading near the Pole and Flag pattern, and now price trading near some important level with volume and if the price is able to break the 700 level and sustains above this we can see some major upside towards the 800.00-900.00 levels with the help of 625.00 support level on the chart. 

If Monte Carlo and Fashion’s daily chart is not able to move upside and trade below the 700 level we can see some more consolidation between the 700 resistance level to 550 support level on the chart. 

Auto Alex Limited (AUTO ALEX)-

Auto Alex’s daily chart is trading near the Horizontal resistance level and now the price is consolidating near the 1725 to 1800 resistance level. If the price is able to break the 1800 level and sustains above this we can see some major upside towards the 2000-2200 levels with the help of 1600 to 1650 support level on the chart pattern. 

If Automotive Alexs’ daily chart is not able to move upside and trade below the 1800 level we can see some more consolidation between the 1600 to 1800 range. 

Charts to Watch

Voltas Limited (VOLTAS)-

Voltas’ daily chart trading near the major support level 925, and now price formed some indecisive candlestick pattern, and now price is trying to move upside and if the price is able to break the 975 level and sustains abvoe this we can see some major upside towards the 1050 level and if the price is able able to break the 1075 level we will have a fresh breakout in Double Bottom pattern and above this we will have strong upside towards the 1175-1250 levels with the help of 950.00 support level on the chart. 

If Voltas’ daily chart is not able to move upside and trade below the 925 level we can see some major fall in the chart with the help of the 975 resistance level on the chart. 

Jsw Steel Limited (JSWSTEEL)-

JSW Steel’s daily chart is trading at a Major horizontal support level and now the price is consolidating between the 580 resistance level to 520 support level on the chart, and now if the price is able to break the 580 level and sustains above this we can see some major upside towards the 640.00-720.00 levels with the help of 540.00-520.00 support level on the chart. 

If JSW Steel’s daily chart is not able to break the resistance level and trade below the 580 level we can see some more consolidation between the 580 resistance level to 530 support level on the chart. 

SBI Life Insurance Limited (SBILIFE)-

SBI Life Insurance’s daily chart trading inside the Rectangle Pattern and now price is trying to bounce from support after some major indecisive candlesticks in last two weeks and now price can move towards the 1160.00-1280.00 levels in coming days with the help of 1060.00 support level on the chart. 

If SBI Life Insurance’s daily chart is not able to move upside and trade below the 1060 level we can see some fall towards the 1040 level and below the 1040 level, we can see some major fall towards the 960.00 to 920.00 levels with the help of 1120.00 resistance level on the chart. 

Coromandel International Limited (COROMANDEL)-

Coromandel International’s daily chart trading according to recent breakout in Rectangle pattern and now price trading near Pole and Flag pattern with strong volume in last three candlesticks’ if price able to break the 990 level we will have a fresh breakout in the chart and above this, we can see some major upside towards the 1100-1200 levels with the help of 925 support level on the chart. 

If Coromandel International’s daily chart is not able to move upside and trade below the 900 level we will have the fresh range to consolidate between the range 900 to 700 levels.

Novartis India Limited (NOVARTIND)-

Novartis India’s daily chart trading with a Double Bottom pattern and now the price is trying to move upside if the price is able to break the 700 level we will have a fresh breakout confirmation on the chart and above this, we can see some major upside towards the 900.00 to 1060.00 levels with the help of 620.0-640.00 support level on the chart. 

If Novartis India’s daily chart is not able to move upside and trade below the 640.0 level we will have a fresh price consolidating between the 700.00 resistance to 560.00 support level. 

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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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