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195th 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.

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Chart Source- Tradingview.com

Indices Charts

Nifty-

Nifty’s Daily chart again formed a Bearish pattern at resistance and now the price is trying to reverse from a resistance level with the help of the Dark Cloud pattern and now the price has given a breakdown in the chart and now price can move towards the 17200 levels if the price is able to break this level we can see some major fall towards the 16800 to 16600 levels with the help of 17800 resistance levels on the chart. 

If Nifty’s daily chart is able to hold the current range 18100 resistance to 17200 support level we can see more consolidation between this range, and fresh major breakdown and breakout will be out of this consolidation range. 

Nifty Bank-

Nifty Bank’s daily chart trading at the resistance level and again price formed the bearish candlestick pattern but was able to hold the big bar support at the 40000 level, if the price is able to break the 40000 level and sustains below this we can see some major fall towards the 38500 to 37500 levels with the help of 41500 resistance level on the chart. 

If Nifty Bank’s daily chart is not able to move downside and able to break the 42000 resistance level we can see some significance upside toward the 45000 to 47000 levels with the help of the 40500 support level. 

Nifty IT-

The Nifty IT’s daily chart trading inside the rectangle consolidation range 26000 support to 30500 resistance level, if the price is able to break the 26000 support level we can see some significant downside towards the 24200-23000 levels with the help of 27000/27300 resistance level on the chart. 

If Nifty IT’s daily chart is not able to break the support level and able to hold the price we can see some more consolidation between the rectangle range and upside only above the 29500 resistance level on the chart. 

Nifty Pharma-

Nifty Pharma’s daily chart trading between the strong and small consolidation range 11000 support to 15000 resistance level. Currently, price is trading below the support level with strong bearish candlestick, now price can move towards the 11500 to 11000 levels with the help of 12500 resistance levels on the chart. 

If Nifty Pharma’s daily chart is not able to move downside and able to hold the 12600 level, we can see some more consolidation between the 13000 resistances to 12300 support level. 

Nifty Financial Services-

Nifty Financial Services’ daily chart trading at strong horizontal resistance level and price as well as trading at Ascending Channel pattern with bearish dark cloud pattern, and incase price is able to break the 18300-support level and sustains below this we can see some significant downside towards the 17000-15500 levels with the help of 19000 resistance level on the chart. 

If Nifty Financial Services’ daily is able to break the 19000-resistance level and sustains above this, we can see some significance upside towards the 20000 to 22000 levels with the help of 18300 support level. 

Nifty FMCG-

Nifty FMCG’s daily chart trading at Ascending Channel pattern and price has strong support at 43000 level, if price is able to break the 43000 level and sustains below this, we can see some significance downside towards the 41000 to 40000 levels with the help of 44000 resistance level on the chart. 

If Nifty FMCG’s daily chart is able to break the 44500 level and sustains above this, we can see some significance upside towards the 47000-50000 levels with the help of 43000 support level. 

Nifty MidCap-

Nifty Midcap’s daily chart trading at horizontal resistance level, and we have seen this type formations in recent time and after bearish formation price fall towards the downside. If price is able to break the 31200 level and sustains below this, we can see some significant downside towards the 29200-28400 levels with the help of 32400 resistance level on the chart.  

If Nifty Midcap’s daily chart is not able to move downside and able to break the 32500 level, we can see some significance upside towards the fresh all time high with the help of 32000 support level. 

Nifty SmallCap-

Nifty Smallcap’s daily chart trading inside the Ascending Channel pattern and incase price is able to break the 9650 level and sustains below this we can see some significance downside towards the 9000-8200 levels with the help of 10200 resistance level on the chart. 

If Smallcap’s daily chart is not able to move downside we can see some more consolidation between the old range 10200 resistance to 9650 support level. 

Breakout Charts

Indus Towers Limited (INDUSTOWER)-

Indus Towers’ daily chart trading inside the Rectangle pattern and currently price consolidated at support level with dojis pattern (Volume), and incase price is able to break the 208 level and sustains above this we can see some major upside towards the 220 to 230 levels. 

If Indus Towers’ daily chart is not able to break the 207 level and trade below this, we can see some more strong consolidation between the 190 supports to 210 resistance level. 

Gail Limited (GAIL)-

Gail’s daily chart trading in Diagonal Resistance level, and price forming candlestick pattern with strong volume, if price is able to break the 93.5 resistance level and sustains above this we can see some signifiance upside towards the 100.00-110.00 levels with the help of 90.00 support level. 

If Gail’s daily chart is not able to break the resistance level and trade below this, we can see some significance consolidation between the 94.00 resistance to 85.00 support level. 

Max Financial Services Limited (MFSL)-

Max Financial Services’ daily chart trading at Diagonal support line and now price is trying to move upside with strong volume, if price is able to break the 830 levels and sustains above this, we can see some significance upside towards the 900 to 1000 levels in coming days with the help of 800 support level on the chart. 

If Max Financial Services’ daily is not able to move upside and trade below the 775 level, we can see some strong downside towards the 725 to 700 levels with the help of 830 resistance level on the chart. 

IndusInd Bank Limited (INDUSINDBK)-

IndusInd Bank’s daily chart trading at 52 weeks high with strong volume and price, if price is able to hold horizontal resistance level 1250, we can see some significance upside towards the 1400 to 1600 levels with the help of 1200/1180 support level on the chart.

If IndusInd Bank’s daily chart is not able to move upside and trade below the 1200 level, we can see some consolidation between the 1100 support to 1200 resistance level.  

NMDC Limited (NMDC)-

NMDC’s daily chart trading at Horizontal Resistance Level after curve like formation, and if price is able to break the 129 level and sustains above this, we can see some significance upside towards the 150 to 165 levels with the help of 120 support level on the chart. 

If NMDC’s daily chart is not able to move upside and trade below the 123 level, we can see some fall towards the 112 to 100 levels with the help of 128 resistance level. 

Breakdown Charts

Balkrishna Industries Limited (BALKRISIND)-

Balkrishna Industries’ daily chart trading at fresh breakdown in diagonal support level with strong volume and price, now price can move towards the 1800 to 1600 levels with the help of 2000 resistance level on the chart. 

If Balkrishna Industries’ daily chart is not able to move downside and able to break the 2050 level, we can see some strong upside towards the 2300 to 2500 levels with the help of 1950 support level. 

Lupin Limited (LUPIN)-

Lupin’s daily chart has given fresh breakdown in Ascending Channel pattern with strong volume and price, now price can move towards the 560 to 520 levels with the help of 650 resistance level on the chart. 

If Lupin’s daily chart is not able to move downside and trade above the 675 level, we will have fresh breakout and movement towards the 760-840 levels with the help of 640 support level. 

Mahanagar Gas Limited (MGL)-

MGL’s daily chart trading at Horizontal Resistance level and price reversing after strong series of dojis and now price is moving downside with strong volume and price. If price is able to break the 840 level and sustains below this, we will have fresh breakdown in the chart, which will lead price towards the 720.00-640.00 levels with the help of 900 resistance level on the chart. 

If MGL’s daily chart is not able to reverse from resistance and able to break the 920-resistance level, we will have fresh breakout in the chat and above this price can move towards the 1040 to 1160 levels with the help of 840 support level. 

Gujarat Narmada Valley & Chemical Limited (GNFC)-

Gujarat Narmada Valley & Chemical’s daily chart has given breakdown in the chart with strong volume and price, now price can move towards the 650.00-600.00 levels in coming days with the help of 750-775 resistance level on the chart. 

If GNFC’s daily chart is not able to move downside and able to break the 800 level and sustains above this, we can see some significance upside towards the 875 to 915 levels with the help of 750 support level. 

United Breweries Limited (UBL)-

United Breweries’ daily chart trading at resistance level with lot of indecisive candlesticks and now price moving downside with strong volume and price. If price is able to break the 1600 level and sustains below this, we can see some significance downside towards the 1500 to 1400 levels with the help of 1680 resistance level on the chart. 

If UBL’s daily chart is not able to move downside and able to break the 1720 level, we can see some significance upside towards the 1850-2000 levels with the help of 1650/1700 support level. 

Cash Charts

Wonderla Holiday Limited (WONDERLA)-

Wonderla Holidays’ weekly chart perfectly worked as Ascending Triangle Pattern and now price trading near resistance level, if price is able to break the 420 level and sustains above this, we can see some significance upside towards the 500-600 levels in coming days with the help of 380-370 support level. 

If Wonderla Holidays’ weekly chart is not able to break the 420-resistance level and trade below this, we can see some more consolidation between the 300 supports to 420 resistance level. 

Fairchem Organics Limited (FAIRCHEMOR)-

Fairchem Organics’ daily chart trading at Horizontal resistance level and price is getting strong volume and price, if price is able to break the 2150 level and sustains above this, we can see some significance upside towards the 2500-2750 levels with the help of 2000 support level on the chart. 

If Fairchem Organics’ daily chart is not able to break the resistance level and trade below the 1900 level, we can see some significance downside towards the 1700 to 1600 levels with the help of 2100 resistance level. 

ICRA Limited (ICRA)-

ICRA’s daily chart trading inside the Ascending Triangle Pattern with strong formation, and this Friday stock formed strong volume on the chart. If ICRA’s chart is able to break the 4200 level and sustains above this, we can see some significance upside towards the 4400 level and incase price is able to break the 4400 level we will have strong upside which will lead price towards the 5000-5600 levels with the help of 3800 support level. 

If ICRA’s daily chart is not able to move upside we can see some more consolidation between the 3700-support level to 4500 resistance level. 

Mcleod Russel Industries Limited (MCLEODRUSS)-

Mcleod Russel’s daily chart has given breakout in Descending Triangle Pattern with strong volume and price. In coming days price can move towards the 40 to 50 levels in coming days with the help of 26 support level. 

Mcleod’s weekly chart formed strong price formation, and in case of price is able to break the 43 level and sustains above this we can see some significance upside towards the 65-80 levels with the help of 25 support level. 

Commodity Charts

CRUDEOIL-

Crude Oil’s daily chart is trading at the significant Diagonal Support level and the price holds the support at the 6600 level, and in case the price is able to break the 6600 support we can see some significant downside toward the 6000 to 5500 levels, and incase price is able to hold the 6600 support level and consolidate at support level we can see some significant upside towards the 7500 to 8000 levels with the help of 6600 support level. 

NATURAL GAS-

Natural Gas 4H Chart trading at Horizontal Support level and holding the support zone between the 600 to 640 levels, and now price may take support here, and in case the price is able to break the 660 level and sustains above this we can see upside towards the 720 to 800 levels with the help of 610 support level. 

If the Price is not able to move upside and trade below the 600 level we can see some significant downside towards the 560 to 540 levels with the help of the 660 resistance level on the chart. 

SILVER-

Silver’s daily chart trading near the Rectangle Support level and now price formed the descending channel pattern with strong price formation, If the price is able to break the 58000 level and sustains above this we will have upside towards the 62000-66000 levels with the help of 55000 support level. 

If Silver’s daily chart is not able to break the 58000 level and trade below this we can see some more consolidation between the old range 58000 to 50000 range. 

GOLD-

Gold’s daily chart trading at the diagonal support level and now the price formed the piercing pattern with some strong bullish formation, but still, we need additional confirmation above the 50000 level we can see upside towards the 52000-54000 levels in the coming days with the help of 49000 support level on the chart. 

If Gold’s daily chart is not able to move upside and trade below the 49000 level we can see some significant downside towards the 47000 to 45000 levels with the help of the 50000 resistance level. 

ALUMINIUM-

Aluminum’s daily chart trading at the horizontal support zone and price consolidate between the 197 to 203 range, if the price is able to break the 210 level we will have fresh confirmation for the upside, and above this, we can see a significant upside towards the 230 to 250 levels with the help of 195 support level. 

If Aluminium’s daily chart is not able to move upside and trade below the 195 level we can see some significant downside towards the 180 to 170 levels with the help of 200 resistance levels. 

COPPER-

Copper’s 4H Chart trading inside the Symmetrical Triangle pattern, and now price formed the morning star at support and getting strong with price, and now price can move towards the 670 level with the help of 640 support level and above 680 level we will have a fresh breakout in the triangle pattern and above this, we can see significant upside towards the 710 to 740 levels. 

If Copper’s daily chart is not able to break the resistance level we can see more consolidation between the 640 support to 680 resistance level. If the price is able to break the 640 level and sustains below this we can see some significant downside towards the 610-590 levels with help of the 660 resistance level. 

ZINC-

Zinc’s daily chart trading at the Horizontal support level and price formed the dragonfly Doji, which is indicating a possible reversal, but we need additional confirmation for the upside above the 290 level. If the price is able to claim the 290 level we can see some possible upside towards the 310 to 330 levels with the help of the 280 support level on the chart. 

If Zinc’s daily chart is not able to move upside and trade below the 280 level we can see some possible consolidation between the 260 to 280 range.