BlogChartBook188th ChartBook

188th 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 currently trading at an important support level (Formed by a recent breakout level) and price confirming the possible reversal on price with the formation of the Hammer pattern, now price can move towards the 16400-16800 levels in the coming days with the help of 15900 support level on the chart,

If Nifty’s chart is not able to hold upside and trade below the 15900 level we can see some more possible consolidation between the 15500 to 15900 range in the chart. 

Nifty’s daily chart has strong support at the 15400 level and in case the price is able to break this support level and sustains below this we can see some major fall towards the 15000-14700 levels. 

Nifty Bank-

Nifty Bank’s daily chart trading at support which is formed by the recent breakout level and now price trade at support level with indecisive candlestick pattern, in case of price, is able to break the 34800/900 level and sustains above this we can see some major upside towards the 36000 level, and if the price is able to break the 36000 level and sustains above this we can see some major upside towards the 38500 to 39400 levels with the help of 35000 support level. 

If Nifty Bank’s daily chart is not able to move upside and trade below the 34400 level we can see some fall towards the 32400 level and the price will consolidate between the 32400 to 34400 range. 

Nifty Metal-

The Nifty Metal’s daily chart is trading inside the consolidation zone, and in case the price is not able to break the 4900 level we can see more consolidation between the 4900 resistance to 4400 support level. If Nifty Metal’s daily chart is able to break the 4400 level and sustains below this we can see some major fall towards the 4000 to 3800 levels with the help of the 4600 resistance level of the chart, and if Nifty Metal’s daily chart is able to break the 5000 level and sustains above this we can see some movement towards the 5600 levels with the help of 4600 support level. 

 

Nifty Auto-

Nifty Auto’s daily chart trading above breakout in Rectangle Pattern, and now price is moving upside with strong candlestick pattern, and now price can move towards the 13500-15000 levels in coming days with the help of 12000 support level on the chart. 

Nifty Auto’s Weekly chart trading at a fresh breakout in Cup and Handle Pattern, now price moving upside with strong candlesticks pattern, and price can move towards the 15000-16000 levels in coming days with the help of 11500 support level on the chart. 

If Nifty Auto’s weekly chart is not able to move upside and fall below the 11600 level, we can see consolidation between the 9300 support to the 12000 resistance level. 

Nifty Financial Services-

Nifty Financial Services’ daily chart trading inside the rectangle pattern, & currently’ the price is moving upside after consolidating at the support level and moving upside, we can see 17000 to 19500 levels with the help of the 15700 support level on the chart. 

If Nifty Financial Services’ daily chart is not able to move upside and face resistance at the 16500 level we can see some more consolidation between the 16500 resistance to the 15000 support level on the chart. 

Nifty Realty-

Nifty Realty’s daily chart is trading at the strong support level, and now the price is trading at a fresh breakout in a Double bottom pattern, price can move towards the 460.00-480.00 levels in the coming days with the help of the 400.00 support level on t he charts. 

if Nifty Realty’s daily chart is not able to move upside and fall below the 400 level we can see some more consolidation between the 365 support level to the 415 resistance level on the chart. 

Nifty IT-

Nifty IT’s daily chart is trading at a Horizontal support level and now the price forming an indecisive candlestick pattern here, and in case the price is able to break the 27000 level and sustains above this we can see some upside toward the 28800 level and in case price is able to break the 28800 level and sustains above this we can see some major upside towards the 32000 to 37000 levels with the help of 26400 support level on the chart. 

If the Price is able to move upside and trade below the 26000 level we can see some fall towards the 25000-23000 levels with the help of the 27000 resistance level o the chart. 

Nifty FMCG-

Nifty FMCG’s daily chart perfectly moving upside according to Cup and Handle pattern, and currently, the price is getting strong, and price moving with a strong candlestick, if the price is able to break the 42000 level and sustains above this we can see some major upside towards the 45000 to 47000 levels in coming days with the help of 40400 support level on the chart. 

If Nifty FMCG’s daily chart is not able to move upside and trade below the 40500 level we can see some fall towards the 38800 level and this level will be key to watch for future movement. 

Breakout Charts

MRF Limited (MRF)-

MRF’s daily chart has given a fresh breakout in Descending Channel pattern, with strong volume and price, now price can move towards the 88000 to 98000 levels in the coming days with the help of the 76000-75000 support level on the chart. 

If MRF’s daily chart failed to move upside and trade below the 75000 level we can see some consolidation between the 75000 range to 66000 levels. 

Hindustan Unilver Limited (HINDUNILVR)-

Hindustan Unilever’s daily chart moving according to curve pattern, and now the price has a fresh breakout in pole and flag pattern with strong candlestick pattern & volume, now price can move towards the 2720-2840 level in coming days with the help of 2500 support level on the chart. 

If Hindustan Unilever’s daily chart is not able to move upside and fell below the 2500 level we can see some consolidation between the 2400 to 2500 level, and in case the price is fall below the 2400 level we can see some major fall and consolidation between the 2080 to 2400 levels. 

Petronet LNG Limited (PETRONET)-

Petronet LNG’s daily chart trading at a fresh breakout in Descending Channel pattern with strong volume in last two days, and candlestick is also looking too good here, now price can move towards the 252.00-276.00 levels in coming days with the help of 220.00 support level on the chart. 

If Petronet LNG’s daily chart is not able to move upside and trade below the 222 level we can see some more consolidation between the 188 to 222 range. 

Larsen and Toubro Limited (LT)-

Larsen and Toubro’s daily chart bouncing from the support level and now price is getting strong with time, if the price is able to break the 1700 level and sustains above this we can see some major upside towards the 1950-2080 levels in coming days with the help of 1640.00 support level on the chart. 

If LT’s daily chart is not able to move upside and trade below the 1640.00 level and trade below this we can see some fall towards the 1520-1450 levels with the help of the 1700 resistance level on the chart. 

Escorts Limited (ESCORTS)-

Escorts’ daily chart trading at a fresh breakout in major horizontal resistance level with strong volume and price, now price is moving towards the 1800 to 1920 level in coming days with the help of 1600 support level on the chart. 

If Escorts’ daily chart is not able to move upside and trade below the 1600 level we can see some fall towards the 1520-1400 levels with the help of the 1640 resistance level on the chart. 

Titan Limited (TITAN)-

Titan’s daily chart moving from the support level, and now the price is getting strong with time and volume, now price can move towards the 2360.00-2550.00 levels in the coming days with the help of the 2120.00 support level on the chart. 

If Titan’s daily chart is not able to move upside and fell below the 2100 level we can see some more consolidation between the 2150 to 1900 range. 

Bharat Electronics Limited (BEL)-

BEL’s daily chart is trading at a fresh breakout in a Symmetrical Triangle pattern, with strong volume and price, now price can move towards the 260.00-285.00 levels in the coming days with the help of the 235.00 support level on the chart. 

If BEL’s price is not able to move upside and trade below the 235.00 level we can see more consolidation between the 224 to 240 range. 

Breakdown Charts

Tata Steel Limited (TATASTEEL)-

Tata Steel’s daily chart trading at Inverted pole and flag pattern, now price is holding the 860.00 support level, if the price is able to break the level we can see some major fall towards the 800 to 680 level in coming days with the help of 900.00 resistance level on the chart.

If Tata Steel’s daily chart is not able to break the 860.00 level and sustains above this we can see consolidation between the 840 to 920 range. If the price is able to break the 920 level and sustains above this we can see some major upside towards the 1000-1120 levels with the help of the 870.00 support level. 

Power Grid Limited (POWERGRID)-

Power Grid’s daily chart trading inside the Ascending Channel pattern and now price is falling inside the small range 200 to 220 level and, If price is able to break the 204 level and sustains below this we can see some fall towards the 192.00-175.00 levels in coming days with the help of 215.00-220.00 resistance level on the chart. 

If Power Grid’s daily chart is not able to break the support level and sustains above the 220 level we can see some upside towards the 240.00-250.00 levels with the help of the 204.00 support level on the chart. 

Birla Software Limited (BSOFT)-

Birla Software’s daily chart trading at the fresh breakdown in Inverted Pole and flag pattern or we can call it, Descending Triangle pattern, with strong volume in last two days, now price can move towards the 260 to 240 levels with the help of 325-340 resistance level on the chart. 

If Birla Software’s daily chart is not able to move downside and able to hold the 320 level we can see some possible consolidation between the 380 to 320 range. 

Wipro Limited (WIPRO)-

Wipro’s Daily chart is trading at the fresh breakdown in the chart, and the price is falling with strong volume and price, price can move towards the 360 to 340 level in the coming days with the help of the 400 resistance level on the chart. 

If Wipro’s daily chart is not able to move downside and hold the 400 level we can see some consolidation between the small rectangle pattern 422 resistance to the 400 level. Breakout will be above the 422 level for major upside towards the 480.00 to 580.00 levels with the help of the 400 support level. 

Hindustan Copper Limited (HINDCOPPER)-

Hindustan Copper’s daily chart is trading below breakdown level, and now price formed the rising wedge pattern, If price is able to break the 85.00 level and sustains below this we can see some major fall towards the 70.00 to 55.00 levels in coming days with the help of 93.00 resistance level on the chart. 

If Hindustan Copper’s daily chart is not able to move downside and able to break the 95.00 level we can see some upside in the chart. 

SBI Card and Payment Limited (SBICARD)-

SBI Card and Payment’s 4H Chart trading near the resistance zone, with indecisive candlesticks pattern in last few days, and now price is reversing from resistance level, and now price can move towards 780.00-720.00 level in coming days with the help of 850.00 resistance level on the chart. 

If SBI Card’s daily chart is not able to reverse from resistance and able to break the 880 level we can see some possible upside toward the 940 to 1020 levels with the help of the 820 support level on the chart.  

Bullish Cash Charts

JK Tyre & Industries Limited (JK TYRE)-

JK Tyre & Industries daily chart trading inside the Rectangle Pattern and price reversing from support with strong volume and price in last two days, now price can move towards the 140.00-164.00levels in coming days with the help of 112.00 support level on the chart. 

If JK Tyre and Industries’ daily chart is not abale to break the 120 level we can see some more consolidation between the 120 resistance to 1200 support level. 

Superhouse Limited (SUPERHOUSE)-

Superhouse’s weekly chart forms the Cup and handles pattern and now the price is getting strong with volume and price, in last week. If the price is able to break the 230.00 level and sustains above this we can see some major upside towards the 280.00-325.00 levels with the help of the 180.00 support level on the chart. 

If Superhouse’s weekly chart is not able to break the 230.00 level and trade below this we can see some more consolidation between the 160 support to 230 resistance level. 

Veto Switchgears Limited (VETO)-

Veto Switchgers’ daily chart trading in falling wedge pattern, and now price is getting strong with volume and price, if the price is able to break the 100.00 level and sustains above this we can see some major upside towards the 136.00 to 167.00 levels with the help of 84.00 support level on the chart. 

If Veto Switchgears’ daily chart is not able to move upside and trade below the 100 level we can see some more consolidation between the 70.00 support to 100.00 resistance level. 

Cybertech Systems Limited (CYBERTECH)-

Cybertech Systems’ daily chart moving according to the Falling Wedge pattern, and now the price is getting strong volume and price, now price is moving towards the 200 to 240 level with the help of 135/130 support level on the chart. 

If Cybertech’s daily chart is not able to move upside and trade below the 135 level we can see some more consolidation between the 100 to 140 range. 

EIH Associated Hotels Limited (EIHAHOTELS)-

EIHAHOTELS’ 4H chart trading in an Inverted head and shoulder pattern, if the price is able to break the 415 level we will have a fresh breakout in the chart for upside. Above breakout, we can see some possible upside towards the 460 to 510 level with the help of the 380 support level on the chart. 

If EIHAHOTELS’ chart is not able to break the 415 level we can see some possible consolidation between the 380.00 support to 415 resistance. 

GNA Axles Limited (GNA)-

GNA Axles’ daily chart trading inside the Rectangle Pattern and price is last two days getting strong with volume, and price trading below the resistance level. If the price is able to break the 585 level and sustains above this we can see some major upside towards the 700 to 775 levels with the help of the 540 support level on the chart. 

If GNA Axles’ daily chart is not able to break the 585 level we can see some more consolidation between the 585 resistance to 460 support level. 

Gujarat Narmada Valley Fertilizer and Chemical Limited (GNFC)-

GNFC’s daily chart trading inside the Symmetrical triangle Pattern and now price is getting strong with volume and price, If price is able to break the 635.00-640.00 level and sustains above this we can see some major upside towards the 750.00-875.0 levels with the help of 600.00 support level on the chart. 

If GNFC’s daily chart is not able to move upside and trade below the 535 level we can see some more consolidation between the 635 resistance level to the 580.00 support level. 

Charts to Watch

GRP Limited (GRPLTD)-

GRPLTD’s weekly chart is trading at a fresh breakout in a long resistance level, now price is moving upside with the strong candlestick in the last two days, and volume in last week’s candlestick looking too good, now the price can move towards the 2400-2600 levels in coming days with the help of 1600.00 support level. 

If GRPLTD’s weekly chart is not able to move upside and fell below the 1700 level we can see some more consolidation between the 1300 to 1800 range. 

Aster DM Healthcare Limited (ASTERDM)-

Aster DM Healthcare’s daily chart trading at a fresh breakout in Rectangle pattern with strong volume and price, now price can move towards the 235.00-260.00 levels in coming days with the help of 200.00 support level on the chart. 

If Asterdm’s daily chart is not able to move upside and fell below the 200 level we can see some possible consolidation between the range 200 to 160.00 levels. 

Syngene International Limited (SYNGENE)-

Syngene International’s daily chart trading inside the rectangle pattern with 2 years long consolidation, and now price is getting strong with volume and price, now price can move towards 660.00-700.00 level in the near term with the help of 540 level, but we are looking here for a breakout in Rectangle Pattern, and this breakout is able the 700 on the chart. 

If Syngene’s daily chart is not able to move upside and trade below the 560 level we can see some more consolidation between the 570 resistance to the 520 support level. 

Cummins India Limited (CUMMINSIND)-

Cummins India’s weekly chart is trading near a major Horizontal resistance level, If price is able to break the 1160.00 resistance level and sustains above this we can see some major upside towards the 1250.00-1500.00 levels with the help of 960/1000 support level on the chart. 

Cumminsind forming less volume here near the resistance level, In case the price is not able to break the 1160 level, we can see some more possible consolidation between the 1160 to 960 support level. 

Shriram Transport Finance Limited (SRTRANSFIN)-

Shriram Transport Finance’s daily chart trading in an uptrend after the breakout in a rectangle pattern, and now the price is getting strong, but volume is not confirming the movement. If Price is able to break the 1325 level and sustains above this we can see some major upside toward the 1475-150 levels with the help of the 1250-1275 support level on the chart. 

If Srtransfin’s daily chart is not able to break the 1325 level we can see some more consolidation between the 1200 support level to the 1325 resistance level in the chart. 

Lumax Auto Technology Limited (LUMAXTECH)-

Lumaxtech’s weekly chart perfectly moving according to recent breakout in Inverted Head and Shoulder pattern and still price is getting strong volume and price, now price can move towards the 270.00-300.00 levels in coming days with the help of 210.00 support level on the chart. 

If Lumaxtech’s weekly chart is not able to move upside and trade below the 210 level we can see some more consolidation between the 150 support to 210 resistance level. 

Commodity Charts

GOLD-

Gold’s 4H Chart trading inside the Descending Channel pattern, and now price trading at major support level with indecisive candlestick pattern, if the price is able to hold 50000 level we can see some possible bullish movement, and in case the price is able to break the 49800 level and sustains below this we can see some major fall towards the 48800 to 48000 levels in coming day with the help of 50300/400 resistance level on the chart. 

ALUMINIUM-

Aluminum’s daily chart is trading at a major horizontal line, and currently price holding the support at the 200 level with an indecisive candlestick pattern, and in case the price is able to break the 210.00 level and sustains above this we can see some major upside towards the 230.00-250.00 levels in coming days with the help of 200.00 support level on the chart. 

If Aluminium’s daily chart is able to break the 200 level and sustains below this we can see some fall towards the 185.00-170.00 levels in coming days with the help of 210 resistance level on the chart. 

COPPER-

Copper’s daily chart trading at strong Horizontal Support level and now price is trying to move upside after fomring Piercing pattern and now price can move towards the 660.00 to 720.00 levels in coming days with the help of 600 support level on the chart. 

If Copper’s daily chart is not able to move upside and trade below the 580 level we can see some major fall in the chart with the help of 630.00 resistancec level on the chart. 

ZINC-

ZINC’s daily chart is trading at a horizontal Support line and now the price is getting strong with a bullish engulfing pattern, now price can move towards the 290.00-320.00 levels in the coming days with the help of the 260.00 support level on the chart. 

If Zinc’s daily chart is not able to move upside and fell below the 260.00 support level we can see some fall and movement towards the 230.00-210.00 level with the help of the 275.00 resistance level on 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 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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