BlogChartBook207th ChartBook

207th 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.

We Don’t provide any tips, recommendations, or PMS Services for any product. If you looking for trades and tips this website is not for you. We solely focus on Chart Learning through Blog and Chart Discussion. 

Chart Source- Tradingview.com

Indices Charts

Nifty-

Nifty’s recent movement is a perfect example of Ascending Channel pattern breakdown and still, the price is moving downside with bearish solid candlesticks. Price can move towards the 17400 to 17300 levels in the coming days with the help of the recent resistance zone in the price near the 18000 resistance level on the chart. 

If Nifty’s daily chart is not able to move downside and able to claim the recent resistance levels 18400, we can see some more consolidation between the recent distribution range which is near the 18600 to 18000 levels. 

Nifty Bank-

Nifty Bank’s daily chart perfect reversed from the resistance levels after forming the Shooting star at the top and then the price break the Ascending Channel pattern and still price moving downside with strong bearish candlesticks, and on Friday candlestick formed the shooting star pattern and still price can move towards the 40500 to 39000 levels in coming days with the help of 42000 resistance level or gap resistance on the chart. 

If Nifty Bank’s daily chart is not able to move downside and able to claim the 42000 level and above this we can see some more consolidation between the current range 42000 to 44200 levels. 

Nifty Metal-

Nifty Metal’s chart is one of the best examples of Distribution at the top and the price showed distribution at 6850 to 6700 levels after this price moved downside with strong bearish candlesticks and the price is currently trading near the Diagonal support level with a strong bearish candlestick formation. Now price can move towards the 6000 to 5800 levels in coming days with the hep of 6500 resistance level on the chart.

If Nifty Metal’s daily chart is not able to move downside and able to break the 6850 level we will have fresh breakout in the chart and stock will move towards the strong upside in the chart with the help of 6400 support level which is formed by the diagonal support level.  

Nifty Finance-

Nifty Finance’s daily chart failed to hit a fresh high and the price reversed from the resistance zone after showing strong distribution between the 19500 to 19000 levels, and recent three candlesticks formed strong bearish formation and Friday candlestick formed the shooting star pattern and price is moving towards the 17750 to 17000 levels in coming days with the help of 19250 resistance level on the chart. 

If Nifty Finance’s daily chart is not able to move downside and able to break the resistance zone we will have fresh breakout for the bullish movement and these will lead price movement towards the 21500 to 23000 levels with the help of 19200 support level. 

Nifty SmallCap-

Nifty SmallCap’s daily chart is a perfect example of a reversal from the resistance after forming the strong indecisive candlesticks at the 10200 level the recent 3 candlestick shows some strong movement and the price is trading at the 9180 level which will lead the price towards the next support level near the 9150 support level. 

If Nifty SmallCap’s daily chart is not able to break the 9150 support level and able to hold the support level we can see some reversal from the support and we can see some more consolidation between the current rectangle type formation 10200 resistance to 9150 support level. 

If Nifty SmallCap’s daily chart is able to break the 9150 level and sustains below this we can see some strong fall in the chart with the help of 9400 resistance level on the chart. 

Nifty MidCap-

Nifty MidCap’s daily chart reversed from the Horizontal Resistance level and price moving downside after forming the evening star at the resistance level and currently trading near the Horizontal support level near the 29800 level. if price is able to hold the 29800 level and reverse from the support we can see some more consolidation between the recent consolidation between the 33000 resistance to 29800 support level. 

If Nifty Midcap’s daily chart is not able to hold the support and able to break the 29800 level we can see some more strong fall towards the 28000 to 27000 levels with the help of 30500 resistance level on the chart. 

Nifty FMCG-

Nifty FMCG’s daily chart trading inside the Ascending Channel pattern and recent movement shows some bearish strength in the past and current candlestick trading with the Diagonal Support line and if price is able to break the 44000 level and sustains below this we can see some movement towards the 42000 to 40000 levels in coming days with the help of 45000 resistance level on the chart. 

If Nifty FMCG’s daily chart is not able to break the diagonal support line and able to hold the 44000 support level we can see some more consolidation between the 46500 resistance to 44000 support level. 

Breakout Charts

Titan Company Limited (TITAN)-

Titan’s daily chart is trading inside the Rectangle Pattern after strong recent upside movement in the chart and the price is consolidating between the 2400 support to 2800 resistance level on the chart. Currently, the price is trying to hold the support level and formed a weak piercing pattern, if price is able to break the 2520 level and sustains above this we can see some strong movement towards the 2700 to 2800 level which is formed by the horizontal resistance levels in the rectangle pattern. 

If Titan’s daily chart is not able to move upside and able to break the 2350 level and sustains below this we can see some movement towards the 2200 to 2000 levels with the help of 2500 resistance level on the chart. 

Syngene International Limited (SYNGENE)-

Syngene International’s daily chart trading inside the Rectangle Pattern formation with the help range of 500 support to 700 resistance level (200 Points) and time frame of 15 months and the recent price is formed diagonal support line and trying to reverse from the support level, if price is able to break the 590 level and sustains above this we can see some movement towards the 640 levels with the help of 570 support level on the chart. 

If Syngene International’s daily chart is not able to hold diagonal support and able to break the 560 level we can see some movement towards the 500 level which is rectangle’s support in the chart. 

Breakdown Charts

Delta Corp Limited (DELTACORP)-

Delta Corp’s daily chart is one more perfect example of Ascending Channel pattern and the recent 3 candlesticks show some strong bearish formation and price is still bearish in the chart and stock can move towards the 165 to 155 levels in coming days with the help of 200 resistance level on the chart. 

If Delta Corp’s daily chart is not able to move downside and able to hold the 188 level we can see some possible bounce from the chart and we can see some little bit upside movement. 

IDFC Limited (IDFC)-

IDFC’s daily chart is one more perfect example of Ascending Channel pattern breakdown with strong bearish candlestick patterns and the stock can move towards the 65 to 54 levels in the coming days with the help of the 78 resistance level on the chart. If IDFC’s daily chart is not able to move downside and is able to hold the 80 level we can see some consolidation and price formation at top of the price 87 resistance to the 80 support level.

RBL Bank Limited (RBLBANK)-.

RBL Bank’s daily chart has given a breakdown of Ascending Channel patterns with strong volume in last 3 bearish candlesticks. Now price can move towards the next horizontal support near the 130 to 120 levels with the help of 160 resistance level on the chart. 

If RBL Bank’s daily chart is not able to move downside and able to hold 160 level we can see consolidation between the recent high (173) and above resistance (160) level. 

Cash Charts

IOL Chemicals & Pharmaceuticals Limited (IOLCP)-

IOL Chemicals & Pharmaceuticals’ daily chart has given a breakout in Descending Channel Pattern with a strong spike in volume and price, but the stock price is not able to hold the 420 level which is Friday’s high. If the price is able to break the 420 level again and sustains above this we will have Ascending Channel pattern breakout confirmation and above this price can move towards the next possible horizontal resistance level at 550 to 650 levels with the help of 370 support level which is formed by the recent low. 

If IOLCP’s chart is not able to move upside and trade below the 370 level we can see more consolidation between the current Ascending Channel pattern range 315 to 490 levels. 

Nectar Lifescience Limited (NECLIFE)-

Nectar Lifescience’s daily chart has given a breakout in the Descending Triangle Pattern with strong volume and some price in the chart, but the stock is not able to hold higher levels and faced selling from the resistance. if the price is able to break the 28.00 level and sustains above this we can see some movement towards the 320 to 380 levels in coming days with the help of 24 support level which is formed by the recent low in the chart. 

If Nectar Lifescience’s daily chart is not able to move upside and trade below the 25.00 level we can see some more consolidation between the recent range 25.00 level to 19.00 support level. 

Morepen Laboratories Limited (MOREPENLAB)-

Morepen Laboratories’ daily chart has given a breakout in Descending Channel pattern with strong volume in the last two days and the stock price is strong during recent formation, but was not able to hold the high of 43.70 level. If the price is able to break the 43.7 level and sustains above this we will have fresh channel pattern breakout confirmation and stock can move towards the 55.00 to 70.00 levels in coming days with the help of recent swing low near the 36.00 support level. 

If Morepen Laboratories’ daily chart is not able to move upside and trade below the 36.00 level we will have Descending Channel Pattern range again the chart and we can see more consolidation between the 23.00 to 45.00 levels. 

H. S. India Limited (HOTLSILV) (Illiquid Stock)-

H. S. India Limited’s chart is Illiquid stock, but this stock is formed one of the finest patterns in Technical Analysis which is a Rounding Bottom Pattern with 13 Points range and a time frame of 13 Years now price trading at 13 years high with a spike in volume and price. Stock may move upside towards 28.00 to 40.00 levels in the coming days with the help of the 12/8 support level which is formed by the recent swing low in the chart. 

If H. S. India’s daily chart is not able to move upside and trade below the 15.00 level we can see consolidation between the recent rounding bottom range 5 to 16 levels. 

Charts to Watch

Suven Pharmaceuticals Limited (SUVENPHAR)-

Suven Pharmaceuticals’ daily chart tried to break the resistance level of the double bottom pattern at 505 level, but failed to hold level and trade at 496 level. If price is able to break the 505 level again and sustains above this we can see some strong upside towards the 560 to 620 levels in coming days with the help of 470/460 support level which is formed by the Swing Support level on the chart. 

If Suven Pharmaceuticals’ daily chart is not able to break the 505 level and trade below this level we can see some consolidation between the recent range 440 support to 505 resistance 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 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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