181st ChartBook

DisclaimerMr. 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 […]

180th ChartBook

DisclaimerMr. 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 […]

179th ChartBook

DisclaimerMr. 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 […]

178th 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.

Users of this website are expected to consider this as a blog only for Learning/Education purpose 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

Indices Charts

Nifty-

Nifty’s 60Min chart clearly shows us the range of Nifty and currently, the price is trading between the 17450 to 16850 levels in the Rectangle Range, If the price is able to break the resistance we can see some major upside in the chart and if the price is able to break the 16850 level and sustains below this we can see some major fall in the chart. 

Nifty’s daily chart between the old range which is consolidation between the 17500 to 16800 range (Feb 2022 to Apr 2022) and now price may consolidate more between this range, if price able to break the 17500 level and sustains above this we can see some major upside towards the 17800 to 18200 levels post-breakout and if Nifty’s daily chart break the 16800 level and trade below this we can see some major fall in the chart with the help of 17000 resistance level on the chart.

Nifty Bank-

Nifty Bank’s daily chart moving downside after forming the island gap in upper range or resistance level and now price trading near the diagonal support line in the chart, if price able to break the 36000 support line and trade below this we can see some major fall towards the 34000 to 32000 levels with the help of 36700 resistance line in the chart. 

If Nifty Bank’s daily chart fails to move fall below the 36000 level and the price is able to break the 37000 resistance level and trade above this we can see some major upside in the chart and the price can move towards the 38000 to 39000 levels in coming days with the help of 36000 support level on the chart. 

Nifty IT-

The Nifty IT’s daily chart recently perfectly moved as per the Rising wedge pattern and now price trading near the major support level near the 31300 level and if price able to break the 31300 level and trade below this we can see some major fall towards the 30000 to 29000 levels with the help of 32500 resistance level on the chart and as price trading near the sup[port and level and price able to break the 32600 level and trade above this we can see some major upside towards the 34000 to 35000 levels with the help of 31300 support level on the chart. 

Nifty Auto-

Nifty Auto’s chart was strong in recent time and now price formed the bearish dark cloud pattern and now price able to break the 10800 support level and trade below this we can see some major fall towards the 10500 to 10200 levels and if price able to break the 11200 level and trade above this we can see some major upside towards the 11600 to 12000 resistance level which is resistance in a rectangle pattern. 

Nifty FMCG-

Nifty Fmcg’s daily chart trading in between the cup and handle pattern and now price trading near the 38500 to 39000 resistance zone, and this will create zone issue for a breakout in pattern and if price fails to break these levels and trade below the 38000 level we can see some more consolidation between the 39000 to 35000 range. 

Nifty Realty-

Nifty Realty’s daily chart trading between the Rectangle Pattern and price perfectly reversed from the middle line and now price trading near some support and if price able to break the 425 level and trade below this we can see some major fall towards the 400 support level which is support level in the Rectangle pattern. 

If Nifty Realty’s chart is able to break the 400 level and trade below this we can see some major fall towards the 3600-340 levels due to the rectangle pattern. 

Nifty Media-

Nifty Media’s daily chart trading between the Rectangle Pattern and currently price reversing from the middle line and price is falling with strong candlesticks on the chart and this will lead the price towards the 2000 to 1930 levels with the help of 2200 resistance levels on the chart and if the price is able to break the 2200 level and trade will be in the good range and price will be in fresh range 2200 to 2500 levels. 

Breakout Charts

Metropolis Health Limited (METROPOLIS)-

Metropolis Health’s 240Min chart trading between the Rectangle pattern or pole and flag pattern, now if price able to break the 26600 level and trade above this we can see some major upside in the chart and this may lead us towards the 3100 to 3400 levels in coming days with the help of 2300 support level on the chart. 

Currently, the price is trading between the range, and if the price is not able to break the resistance level we can see some major consolidation between the 2300 to 2600 levels and a breakdown below this 2300 level on the chart. 

Deepak Nitrite Limited (DEEPAKNTR)-

Deepak Nitrite’s daily chart forming the inverted head and shoulder pattern, and now price gaining strength here, if price able to break the 2400 level and trade above this we can see some major upside towards the 2600 levels with the help of 2200 support level on the chart. 

If Deepak Nitrite’s daily chart fails to break the resistance level we can see some more consolidation between the 2400 to 2150 range and if the price is able to break the 2150 level and trade below this we can see a major fall in the chart. 

Multi Commodity Exchange Limited (MCX)-

Multi Commodity’s chart forming the cup and handle pattern and we have seen some strong volume in last two bars and now price moving upside, if price able to break the 1500 to 1480 level we can see some major consolidation between the 1640-1760 levels with the help of 1360 support level on the chart. 

If MCX’s chart fails to move upside and trade below this 1480 resistance level we can see some more consolidation between the 1320 to 1500 levels. 

Indian Hotels Limited (INDHOTEL)-

Indian Hotels’ daily chart moving upside after the strong Rectangle pattern and now price trading between the rectangle pattern, if the price is able to break the 260 level and trade above this we can see some major upside towards the 280-300 levels in coming days with the help of 240-245 support level on the chart. 

If Indian Hotel’s daily chart fails to move upside and trade below the 260 level we can see some more consolidation between the 230 to 260 consolidation range. 

Indiamart Intermesh Limited (INDIAMART)-

Indiamart Intermesh’s 240Min chart trading in inverted the head and shoulder pattern and now price trying to bounce here and now price able to break the 5000 level and trade abvoe this we can see some major upside in the chart and this will move toward the 5800-6600 levels with the help of 4600 support level on the chart. 

if Indiamart’s chart fails to move upside and is not able to break the 5200 level we can see some more consolidation between the 4500 to 5000 range.

Bearish Charts

Axis Bank Limited (AXISBANK)-

Axis Bank’s daily chart trading between the Rectangle pattern and now price reversing from resistance with strong volume in the chart and now if price able to break the 720.00 level and trade below this we can see some major fall towards the 660 to 640 levels post breakdown with the help of 760 resistance level on the chart. 

If Axis Bank’s daily chart fails to break the 720 level we can see more consolidation between big candlestick as well as the 720 to 820 range. 

Mahanagar Gas Limited (MGL)-

Mahanagar Gas’ daily chart trading between the ascending channel pattern and now price falling with strong candlestick along with strong volume, now price can move towards the 720-670 levels in coming days with the help of 800-780 resistance levels on the chart. 

If Mgl’s daily chart fails to move downside and if the price is able to break the 800 level we can see some upside in the chart and the price will consolidate between the 840 to 800 range and if the price is able to break the 840 level and trade above this we can see some major upside in the chart with the help of 800 support level. 

Gujarat Gas Limited (GUJGASLTD)-

Gujarat Gas’s limited chart trading in the head and shoulder pattern or the cup and handle pattern, if price able to break the 480 level and trade below this we can see some major fall towards the 420-380 levels with the help of 500 resistance level on the chart. 

Gujarat Gas’ daily chart if fails to move downside and trade above the 520 level we can see some major upside in the chart with the help of the 480 support level the chart. 

Hindustan Petroleum Limited (HINDPETRO)-

Hindustan Petroleum’s daily chart is moving downside along with a strong candlestick pattern and now the price is falling along with strong volume, if price able to break the 260 level we can see some major downside towards the 250-230 levels with the help of 280 resistance level on the chart. 

If Hindustan Petroleum’s daily chart fails to move downside we can see some more consolidation between the big candlestick and if the price is able to break the 290 level and trade above this we can see some major upside in the chart.  

Dr. Lal Pathlabs Limited (LALPATHLAB)-

Dr. Lal Pathlabs’ 240 Min chart has given a breakdown in the rising wedge pattern and now the price can move towards the 2400-2300 levels in the coming days with the help of the 2700-2750 resistance level on the chart. 

If Dr. Lal Pathlabs’ chart fails to move downside and if the price is able to break the 2800 level and trade above this we can see some major upside in the chart stock can move towards the 3100-3400 levels with the help of the 2650 level. 

Ambuja Cement Limited (AMBUJACEM)-

Ambuja Cement’s 240Min chart is trading near the major resistance level and now the price is reversing with a strong candlestick pattern along with strong volume, now price can fall towards the 350.00-320.00 levels with the help of the 390 resistance level on the chart. 

If Ambuja Cement fails to move downside and if the price is able to break the 390 level and trade above this we can see some major upside in the chart and the price can move towards the 420-440 levels with the help of the 360 support level. 

Cash Charts

Grauer & Well (india) Limited (GRAUWELL)-

Grauer and Well’s weekly chart has given a breakout in the cup and handle pattern with some strong volume in the chart and now if the price is able to break the 75.00 level we can see some major upside in the chart and stock will move towards the 90.00-110.00 levels with the help of 65.00 support level on the chart.  

If Grauer & Well’s chart fails to move upside and the price fall below the 65.00 level we can see some more consolidation between the 65.00 to 50.00 range in the chart.

Hov Services Limited (HOVS)-

Hov Services’ weekly chart moving to the upside with strong volume and now the price is able to break the 80.00 level and trade above this we can see some major upside towards the 140.00 to 240.00 levels with the help of 50.00-60.00 support level on the chart. 

If Hov Services’ weekly chart is not able to break the 80.00 level we can see some more consolidation between the 40.00 to 80.00 range. 

Aptech Limited (APTECH)-

Aptech’s 240Min chart trading in strong price and strong volume in recent price, and price forming the Cup and handle pattern, if price able to break the 380.00 level and trade above this we can see some major upside towards the 420.00-440.00 levels with the help of 350.00 support level. 

If Aptech’s 240Min is not able to break the resistance and trade below this 380 level we can see some consolidation between the 380.00 to 320 range. 

Shanti Gears Limited (SHANTIGEAR)-

Shanti Gears’ daily chart perfectly moved as per the our Sniper chart and now price has given a breakout in the curve pattern and now the price is moving upside with strong volume and now the price has support near 205 support level. 

If the Price is not able to move upside and if the price trades below the 210 level we can see some major fall in the chart and consolidation will be between the 210 to 160 range. 

Rupa & Company Limited (RUPA)-

Rupa and Company’s daily chart trading between the Rectangle pattern and now price moving with strong volume and price, if price able to break the 560 level and trade above this we can see some major upside in the chart, and price can move towards the 600-650 levels with the help of 500 support level. 

If Rupa’s chart fails to move upside and trade below the 560 level we can see some more and strong consolidation between the 560 to 400 range. 

Charts to Watch

Varroc Engineering Limited (VARROC)-

Varroc Engineering’s daily chart trading between the strong range 250.00 to 450.00 range and now volume start forming and if price able to break the 500 level and trade above this we can see some major upside towards the 650 to 850 levels with the help of 400 support level and if price not able to break the 500 level we can see trade between the 500 to 250 range and this will be fund to watch range consolidation. 

Kotak Mahindra Bank Limited (KOTAKBANK)-

Kotak Mahindra’s 240Min chart forms the falling wedge pattern and now the price trying to break out of the range and now if the price is able to break the 1810 level and trade above this we can see some major upside toward the 1900-2000 levels with the help of 1760 support level. 

If Kotak Bank’s 240Min chart fails to move upside and trade below the 1750 level we can see some fall and consolidation between the 1780 to 1670 range.  

Coforge Limited (COFORGE)-

Coforge’s Daily chart trading at the Horizontal Support line 4000 and now price consolidate at support and now price trying to reverse with strong volume, If price able to break the 4250 level and sustains abvoe this we can see some upside towards the 4800 to 5200 levels with the help of 4000 support level. 

If Coforge’s daily chart is not able to sustain above 4000 level and price trade below 4000 level we can see some major fall in the chart with the 4200 resistance level on the chart. 

Gillette India Limited (GILLETTE)-

Gillette’s weekly chart is trading at a major Horizontal Support line and now the price trying to reverse from support along with strong volume and now If the price is able to sustain above the 5400 level we can see some major upside towards the 6200 to 7400 to 8000 levels with the help of 4800 support level on the chart. 

If Gillette’s weekly chart is not able to move upside and prices fall below the 4800 level we can see some major fall in the chart. 

Alicon Castalloy Limited (ALICON)-

Alicon Castalloy’s daily chart trading in rectangle pattern and now price taking support at the horizontal line along with strong volume in last two days. If the price is able to break the 761 level and trade above this we can see some major upside towards the 800 to 950 levels with the help of the 650 support level. 

If Alicon’s daily chart fails to move upside and the price is able to break the 650 level and trade below this we can see some major fall towards the 500 to 400 levels. 

177th 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.

Users of this website are expected to consider this as a blog only for Learning/Education purpose 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

Indices Charts

Nifty-

Nifty’s daily chart between the old range which is consolidation between the 17500 to 16800 range (Feb 2022 to Apr 2022) and now price may consolidate more between this range, if price able to break the 17500 level and sustains above this we can see some major upside towards the 17800 to 18200 levels post-breakout and if Nifty’s daily chart break the 16800 level and trade below this we can see some major fall in the chart with the help of 17000 resistance level on the chart. 

Nifty Bank-

Nifty Bank’s daily chart moving downside after forming the island gap in upper range or resistance level and now price trading near the diagonal support line in the chart, if price able to break the 36000 support line and trade below this we can see some major fall towards the 35000 to 34000 levels with the help of 36700 resistance line in the chart. 

If Nifty Bank’s daily chart fails to move fall below 36000 level and if price able to take support here we can see some bounce in the chart and this will lead us consolidation between the 39000 to 36000 range in the chart. 

Nifty IT-

The Nifty IT’s daily chart recently perfectly moved as per the Rising wedge pattern and this lead us to the 36400 to 32000 level this is one of the best examples of the chart.

Currently’ Nifty IT’s daily chart currently trading between the big candlestick pattern with small blue candles, if the price is able to break the 33000 level and trade above this we can see some possible gap filling in the chart and if Nifty IT’s daily chart break the 31500 support level and trade below this we can see some major fall in the chart with the help of 33000 resistance level on the chart. 

Nifty Auto-

Nifty Auto’s is the only index in the market that is moving strongly in the chart and now the price has again given a breakout in the pole and flag pattern, with strong price, now price can move towards the 11400-12000 levels in coming days with the help of 10500 support level on the chart pattern. 

If Nifty Auto’s daily chart is not able to move upside and if the price fall below the 10500 level and trade below this we can see some major fall in the chart and this will lead the price towards the 10200-10000 levels. 

Nifty Infra-

Nifty Infra’s daily chart trading between the Rectangle Pattern, and now price trading near the resistance line and price formed some indecisive candlestick patterns. If the Price is able to 522 level and price trades above this we can see some major upside and we will have some strong resistance level near the 5370 level, if the price is able to break the 5700 level and trade above this we can see some major upside towards the 5600-5800 levels with the help of 5050 support level. 

Nifty Realty-

Nifty Realty’s daily chart trading between the Rectangle Pattern and currently price reversing from the middle line and price is falling and this may fall towards the 420-400 levels in coming days with the help of 480-470 resistance level on the chart. 

If Nifty Realty’s daily chart is able to break the middle line 480 level and trade above this we can see some major upside and this may lead the price towards the 550 resistance level on the chart. 

Breakout Charts

Page Industries Limited (PAGEIND)-

Page Industries’ daily chart moving in a strong uptrend and currently, again price has given a breakout in the Pole and Flag pattern, now price can move towards the 50K level in the coming days as this is a strong breakout in the chart. Page Industries’ has support near the 42000 level on the chart. 

If Page Industries’ daily chart fails to move upside and if the price falls below the 42000 support level we can see some major fall in the chart as our pole and flag pattern will be invalid below the 40000 level. 

Eicher Motors Limited (EICHERMOT)-

Eicher Motors’ daily chart trading between the Rectangle pattern and now price trading near the middle line and now price formed the Dragonfly pattern and now if price able to break the 2650 level and trade above this we can see some major upside in the chart and this will lead us price towards the 2800 to 2900 levels with the help of 2550 support level on the chart. 

If Eicher Motors’ daily chart is not able to break the 2650 level and trade below this middle line of the rectangle pattern we can see some more consolidation between the 2650 to 2300 levels range. 

Dalmia Bharat Limited (DALBHARAT)-

Dalmia Bharat’s 120Min Chart trading in the Pole and Flag pattern, (March 2022 to April 2022) if price able to break the 1640 level and this will confirm the breakout in the patter and above this price can move towards the 1840 to 2000 levels in coming days with the help of 1560 support level on the chart. 

If Dalmia Bharat’s 120Min is not able to break the 1640 level and trade below this we can see some more consolidation between the 1500 to 1640 range. 

Adani Port Special Limited (ADANIPORTS)-

Adani Port Special’s daily chart has given a breakout in the strong rectangle pattern (Feb 2021 to Apr 2022) and now the price is moving upside as per the chart and strong candlestick along with volume. If Adani Port is able to break the 900 level and sustains above this we can see some major upside toward the 1000 to 1100 levels in the coming days with the help of the 825-850 support level on the chart. 

If Adani Port Special’s daily chart is not able to move upside and if the price falls below the 820 level we can see some major fall in the chart and this will lead us towards more consolidation between the 810 to 650 range. 

Mindtree Limited (MINDTREE)-

Mindtree’s daily chart trading at Major Horizontal support line and now price has formed the morning start here and now price is moving upside with strong volume, now price able to break the 3900 level and sustains above this we can see some major upside towards the 4200 to 4500 levels in coming days with the help of 3600-3500 support level on the chart.  

If Mindtree’s daily chart is able to hold the horizontal support level and if the price is able to break the 3600 level and trade below this we can see some major fall in the chart. 

Asian Paints Limited (ASIANPAINT)-

Asian Paints 240Min chart trading between the inverted head and shoulder pattern (Jan 2022 to Apr 2022) and now price trading near the neckline, if price able to break the 3200 resistance line and trade above this we can see some major upside towards the 3400 to 3550 levels post-breakout in the chart with the help of 3000 support level on the chart. 

If Price is not able to break the Neckline and price trades below the 3200 resistance level we can see some major consolidation between the 2950 to 3200 range. 

Breakdown Charts

Tata Steel Limited (TATASTEEL)-

Tata Steel’s daily chart trading between the Rectangle pattern and now price trading between the middle line and now price trade below the support line and now price falling with strong candlestick, now price can move towards the 1200 to 1100 levels in coming days with the help of 1320 resistance level on the chart. 

If Tata Steel’s daily chart trading near the middle line and now if price break the resistance level of 1320 level we can see some major upside and this will lead us price towards the resistance level in the rectangle pattern. 

Torrent Pharma Limited (TORNTPHARM)-

Torrent Pharma’s daily chart trading between the Rectangle pattern and inside pattern price is formed the Ascending Channel pattern and now the price has given a breakdown in the chart with strong volume and now price gains some from the lower side and if price able to break the 2675 support level and sustains below this we a see some major fall towards the 2500 to 2300 levels in coming days with the help of 2800 resistance level on the chart. 

If Torrent Pharma’s daily chart trading between the rectangle pattern and the current price is near the middle line, if the price is able to break the 2900 level we can see some major upside and this will lead us towards the resistance level of the rectangle pattern 3300 resistance level. 

State Bank of India Limited (SBIN)-

State Bank of India’s daily chart trading between the Rectangle Pattern and now price trading near the resistance level and price formed some strong dojis pattern and now price is formed the bearish marubozu pattern with strong volume and now price is falling towards the 480.00-450.00 levels in coming days with the help of 510-515 resistance level on the chart. 

If the State Bank of India’s daily chart fails to move downside and if the price is able to break the 520 level and sustains abvoe this we can see some upside towards the 540 resistance level of the Rectangle pattern.

Shriram Transport Limited (SRTRANSFIN)-

Shriram Transport’s daily chart moving in downside and price trading near the Diagonal support line of the Inverted Pole and Flag pattern, if the price is able to break the 1090.00 support level and falls below this we can see some major fall towards the 1000-900 levels in coming days with the help of 1150 resistance level on the chart. 

If Shriram Transport’s daily chart is not able to fall below the 1100 level and sustains above the support we can see some consolidation between the 1270 to 1100 consolidation zone.

AU Small Finance Limited (AUBANK)-

Au Small Finance’s daily chart trading between the Rectangle pattern and now price showing some strong indecisive nature with strong dojis pattern and now price trying to move downside with strong bearish candlestick and some volume, now price can move towards the 1240-1120 levels with the help of 1440 resistance level on the chart pattern. 

If Au Small Finance’s daily chart fails to move downside and not able to break the 1360 level and trade above the 1440 level we can see some major upside in the pattern with the help of 1360 support level. 

Jsw Steel Limited (JSWSTEEL)-

Jsw Steel Limited’s daily chart trading near the Horizontal Resistance Line and currently price reverse after forming the some dojis pattern near resistance and bearish marubozu pattern, now price moving downside, and now price have small support near the 720 level, if price able to break the 720 level and trade below this with strong volume and price, we can see some major fall towards the 660.00 to 600.00 level which is major support in horizontal line. 

If Jsw Steel Limited’s daily chart fails to move downside and price able to break the 780-790 level and trade above this we can see some major upside with the help of 725/735 support level on the chart. 

Cash Charts

Bombay Dyeing and Manufacturing Company Limited (BOMDYEING)-

Bombay Dyeing and Manufacturing weekly chart currently trading between the strong consolidation in range 40 to 120 levels. Price currently forming the Cup and handle pattern, and price moving upside with strong candle along with the strong volume, if price able to break the 125 level we will have fresh breakout in the cup and handle pattern, above breakout price can move towards the 180.00 to 260.00 levels in coming days with the help of 100.00 support level on the chart.

If Bombay Dyeing fails to move upside and if price not able to break the 125 level we can see some more consolidation between the 60 to 125 range.

If Price fails to move upside and price fall below the 70 level we can see some major fall in the chart. 

De Nora India Limited (DENORA)-

De Nora’s recent breakout in the pattern near 315 level is one of the finest example of strong consolidation breakout chart and price moved 300 to 517 level according to chart and now price has given breakout to the Pole and flag pattern with strong volume in the chart and price, now price can move towards the 620 to 700 levels in coming days, support near the 475 support level on the chart. 

If De Nora’s chart fails to move upside and price falls below the 450 level we can see some major fall in the chart and price can move towards the 350 support level.

If Price not able to move upside and fall below the 525 level we can see some more and major consolidation between the recent range of flag between 530 to 350 range. 

Navkar Corporation Limited (NAVKARCORP)-

Navkar Corporation’s daily chart has given breakout in the Rectangle Pattern (March 2019 to April 2022) with range of 3 Years and now price is moving upside in last 2/3 Weeks with strong volume from lower side and price is moving upside, now price can move towards the 90.00 to 140.00 levels in coming days with the help of 50.0-45.0 support level on the chart. 

If Navkar’s chart fails to move upside and price fall below the 50 level which is resistance level in the chart we can see again consolidation between the 20.00 support level to 50.00 resistance level. 

Archidply India Limited (ARCHIDPLY)-

Archidply India’s daily chart has given breakout in the 2022 level and now price again moving upside after the recent breakout and now price moving upside after the Diagonal resistance level with strong volume in last 2/3 days and now price can move towards the 75.00-100.00 levels in coming days with the help of 40.00 support level on the chart.

We can also read this pattern as the Cup and handle pattern and price resistance is near the 60.00 level and if price able to break the 60.00 level we can see some major upside in the chart and Handle’s support is near the 40.00 level on the chart. 

If Archidply’s daily chart not able to move as per bullish patterns and price falls below 40.00 level, cup and handle pattern will be invalid and price may fall towards the 20.00-10.00 levels.

Marathon Nextgen Limited (MARATHON)-

Marathon Nextgen’s daily chart has given breakout in the Curve Pattern (Apr 2019 to Apr 2022) Years consolidation and now price is moving upside with strong volume in last 2/3 weeks and now price can move towards the upcoming resistance levels 220-300 levels with the help of 100-120 support level on the chart. 

If Marathon Nextgen’s daily chart fails to move upside and if price able to break the 100 level we can see some fall in the chart and we can see some more consolidation between the 125 to 40 range which is big and strong range of Marathon Nextgen. 

Schneider Electronic Limited (SCHNEIDER)-

Schneider Electronic Limited’s weekly chart has given breakout in the Cup and handle Pattern (May 2017 to Apr 2022) after 5 years consolidation and now price moving with strong price formation along with the strong volume in Breakout candlesticks and we can see volume creation in 2020 to 2022 zone and now price can move towards the 190.00 to 220.00 levels in coming days with the help of 110.00/100.00 support level on the chart. 

If Schneider’s weekly chart fails to move according to cup and handle pattern and if price able to break the Handle’s low and trade below the 100 level we can see some major fall in the chart. 

Charts to Watch

Sbi Life Insurance Limited (SBILIFE)-

Sbi Life Insurance’s 240Min chart forming the possible Cup and Handle pattern, currently price trading in the handle pattern and now price is trying to move upside and now if price able to break the 1170 level and sustains above this with strong volume we can see some major upside towards the 1260 to 1295 levels and if price not able to break the resistance level we can see some more consolidation between the 1100 to 1170 levels for consolidation in the range. 

Mahindra and Mahindra Limited (M&M)-

Mahindra and Mahindra’s daily chart currently trading between the Rectangle Pattern (Dec 2021 to May 2022) and currently price trading between the range 960 to 725 levels and now if price able to break the 960 level and sustains above this we can see some more upside on the chart and support will be near the middle line of pattern near 840.00 support level and if Mahindra’s chart able to break the 840 level and fall below this we can see some fall towards the Rectangle’s support near 725 level and if price able to break the 725 level and falls below this we can see some major fall according to pattern and this may lead price towards the 600-520 levels.  

TPL Plastech Limited (TPLPLASTEH)-

TPL Plastech’s weekly chart forming the Cup and Handle pattern (2018 to 2022) and now price trading between the handle’s range and now price returning from the support with strong Doji’s and now price moving with strong candlesticks (Bullish Marubozu) and Volume, now price can move towards the 220 resistance level. If TPL Plastech’s weekly chart is able to break the 220 level and sustains above this we can see some major upside towards the 280.00 to 360.00 levels with the help of the 120.00 support level on the chart. 

Currently, TPL Plastech’s weekly chart is trading between the Handle’s range of 220 to 120 levels, and if the price is able to break this range we can see some major upside or major downside on the chart. 

Borosil Renewables Limited (BORORENEW)-

Borosil Renewables’ daily chart moving in strong upside and this stock basically moved in upper locks and lower locks, currently price trading at a fresh breakout in the Curve Pattern and price breakout with strong candlestick with strong volume, but price consolidation is low and this makes pattern strength is a little bit weak. Borosil Renwables’ chart can move towards the 850 to 950 levels in the coming days with the help of the 680/700 support level on the chart. 

Shree Renuka Sugar Limited (RENUKA)-

Shree Renuka Sugar’s Weekly chart moving as per the Rounding Bottom pattern (2012 to 2012- 10 Years Consolidation in Pattern) and the price moved from 42 to 61 level according to breakout level which is almost 50% from the breakout level and price moving with strong volume in last 3 weeks and still price can move towards the 90.00 to 120.00 levels in coming days and now price support moved to 40.00 level. 

Rajshree Sugar and Chemicals Limited (RAJSHREESUG)-

Rajshree Sugar and Chemicals weekly chart formed the cup and pattern formation (Jan 2018 to Apr 2022- 4 Years) and now price finally trading above this resistance level with some strong volume in last 3 weeks candlestick bar and now price moving upside and this may push price towards the 52.00 to 68.00 levels with the help of 25 Support (Handle’s Low).

Chart trading with low volume makes stocks illiquid and these charts of stocks are easy to speculate and due to this technical analysis may face some strong issues. 

Chapter 1: Basics of Insurance

Insurance is the most effective risk management tool which can protect individuals and businesses from financial risks arising out of various contingencies. The emotional and psychological loss can never be compensated, but at least the financial loss can be compensated with insurance. Though there are uncertainties in life that you cannot mitigate, insurance will surely help you transfer the financial risk associated with the same.

What is Insurance?

Insurance is the most effective risk management tool which can protect individuals and businesses Insurance is a legal contract between two parties- the insurance company (insurer) and the individual (insured), wherein the insurance company promises to compensate for financial losses due to the insured contingencies in return for the premiums paid by the insured individual. In simple words, insurance is a risk transfer mechanism, where you transfer your risk to the insurance company and get the cover for financial loss that you may face due to unforeseen events. And the amount that you pay for this arrangement is called the premium. There is insurance available for various risks, starting from your life to the mobile phones that you use. In the end, it’s essential to protect what is ‘important’ to you.

How does insurance work?

The concept of insurance works on the basis of ‘risk pooling. When you buy any type of insurance policy from the insurance company for a specified period with specific cover, you will make regular payments (referred to as premiums) towards the policy. Similarly, an Insurance Company collects premiums from all of its clients (referred to as insured) and pools the money collected to pay for losses arising out of an insured event. In case the insured event takes place, and you make a claim, losses will be compensated by the insurance company from the pool of policyholder’s premiums. In case you don’t make a claim during the specified policy period, no benefits will be paid to you. However, there are various types of products offered by insurance companies today which also involve savings elements attached to them.

Need of Insurance

Insurance enables risk transfer from the beneficiary (Insured) to the insurance company (Insurer), which undertakes to indemnify the insured for the financial loss suffered. In return, the insured pays a periodic fee, called premium, to the Insurer to receive this protection. To be insurable, the event being insured against, such as death, accident or fire must result in a financial loss which can be quantified and insured against. The premium payable will depend upon this expected loss and the probability of the event occurring during the period of the contract. For example, the premium payable on a health policy for an individual whose parents have a history of ill-health that is considered genetic, such as ailment of the heart, cancer, or diabetes may be much higher than that for an individual coming from parents with no such history. This is because the probability that the insurance company will be required to pay medical expenses in the first case is much higher than what it is in the second case.

Requirement of an Insurable risk

  1. A large Number of Exposure Units- An insurance company is able to offer the protection it does because it operates a common pool in which only a few will suffer loss in any one year. The entire pool pays a premium but the liability for the insurance company will be only a few in a year. In the absence of a large number of people being exposed to the same risk, the premium payable would be much higher and it would be unviable for the insurer and the insured. Also even if the pool of people likely to suffer the loss is large but the number of them who are willing to pay a premium for covering that loss is a fraction then also the insurance premium would be larger for the people who are willing to pay the premium.
  2. Insurable Interest – Insurable interest implies that the individual seeking insurance will face financial loss in the event of loss or destruction of the subject matter of insurance. The loss should be monetary in nature and not merely emotional or related to feelings. The interest must be lawful.
  3. Accidental and unintentional – Loss must be accidental, unintentional, and uncertain. The only exception is life insurance where the event being insured against, namely death, is certain. However, the time of death is uncertain, which makes it insurable. Loss should be fortuitous and outside the insured’s control.
  4. Determinable and measurable – Loss should be definite as to cause and amount. The cause must be known such as a death in the case of Life Insurance or fire in the case of property Insurance. It means that loss must be calculatable based on some definite evidence.
  5. No prospect of gain or profit – A further characteristic of the insurable risk is that it does not involve any prospect of gain or profit. In other words, it must be a pure risk with only the possibility of full or partial loss. Speculative risk is not insurable.
  6. Chance of loss must be calculable – Insurers must be able to calculate with some accuracy, average frequency, and average the severity of future losses.
  7. The premium must be economically feasible– Premiums should not only be affordable but also far less than the value of the risk covered. Else the option to retain risk will be more feasible than transfer risk through insurance.

Insurable Interest

Insurable interest is defined as the reasonable concern of a person to obtain insurance for any individual or property against unforeseen events such as death, losses, etc. A person is expected to have a reasonable interest in a longer life for himself, his family, and his business and hence is in need of acquiring insurance for these. Therefore, insurable interest is often related to ownership, relationship by law, or blood and possession. However, it is not an important element of life insurance contracts under modern law.

Concepts in Insurance:- 

Indemnity Insurance- Indemnity Insurance means that the insurance policy will pay the amount necessary to put you back in the same financial position as you were before the claim was made. This is a technical term insurance companies like to use which basically means that they will recover your damage.

Benefits Insurance– A defined benefit Insurance plan is different from an Indemnity Insurance in that a fixed sum of money based on a pre-estimated amount of loss will be paid on the happening of a covered event. A life Insurance policy is a good example of a defined benefit Insurance as it pays a pre-fixed sum of money on the death of the insured person without really trying to ascertain the exact actual loss caused due to the death of the insured person.

    1. it is difficult to ascertain the exact actual loss caused 
    2. The amount of loss is small and the cost of determining the “actual loss” might not be worth the actual amount of loss caused.

Difference between Indemnity and Benefit Policies
  • Subrogation- Subrogation means the insurance company steps into the shoes of the insured person after paying the claim and taking all actions that the insured person could have taken. An example could be a loss incurred by the insured person due to the accident caused by another car that was at fault. In such cases, the insurance company pays the claim to the insured person and then steps into the shoes of the insured person and pursues the claim with the “at fault” driver or her insurance company and recovers the loss from them. 

Contribution- The principle of contribution is implemented when multiple insurance policies are covering the same property or loss, the total payment for actual loss is proportionally divided among all insurance companies.

Co-Pay-  is the proportion of the claim amount which will be met by the Insured person. It is most popularly used in the context of car Insurance and health Insurance. For example, if the insured person has agreed on a co-pay of 15% and the ascertained claim amount is Rs. 2,00,000 then the insured person will pay Rs. 30,000 (15% of Rs. 2,00,000) and the Insurer will pay only the balance amount of Rs. 1,70,000/- .

Deductible- Deductible is the amount that a policyholder has to pay before the insurance company starts paying up. In other words, the insurance company is liable to pay the claim amount only when it exceeds the deductible. If the deductible of your policy is Rs 30,000 and the claim by the insured is Rs 40,000, then the insurance company is liable to pay only Rs 10,000. However, if the claim amount is less than the deductible, the insurer is not liable to pay any amount. For high deductible policies, the premium is lower while the low deductible policies have a higher premium.

Cashless claim payment– This is relevant for indemnity insurance and mostly used in the context of health insurance and car insurance. Under normal circumstances, the insured person first incurs the expenditure at the hospital/garage and then files a claim for reimbursement with the insurer. This blocks the cashflow of the insured person. In many cases, the insured person may not have that amount of cash available to first make payment to the hospital/garage.  

 

Role of Insurance in Personal Finance- 

Insurance is a very crucial part of everyone’s financial plan. Staying prepared for the unforeseen would ensure that you could still accomplish your goals even after encountering a financial crisis. An insurance policy would help to preserve your emergency fund in case of emergencies. Insurance could also protect your family if you’re part of an accident and have sustained injuries, become disabled, ill, or die. Some situations could be very expensive for the ones with no insurance coverage, so it is vital to have any policy you require depending on your financial situation.

The insurance decisions that you take must be dependent on your age, family, and financial situation. There are several forms of insurance that one can choose from. For instance, life insurance could be a necessity, particularly in case you’re married and have children.

 

Role of Insurance Adviser-

  1. Steps in Insurance Planning- Just like financial planning, insurance planning is also specific to the individual and their situation.
    • Identify insurance need– Insurance is primarily a tool for protection from financial loss. Identifying insurance needs, therefore, requires identifying all those situations that can result in a loss of income or an unexpected charge on income. Insurance needs can be broadly categorized as:
    • Income replacement needs in the event of a risk to the earning ability of an asset, which includes the life of an individual as well as his earning ability as an asset generating income. Eg. such- Life Insurance, Critical Illness, and Accidental Disability insurance.
    • Income protection needs to protect the available income from an unexpected charge. Eg. Health Insurance and Motor Insurance.
    • Asset protection needs include the need to protect assets created from theft or destruction. Eg.-Household insurance.

2. Estimate the insurance coverage- 

    • Estimate the amount of insurance required- The purpose of insurance is to compensate for the financial loss suffered from a specified event. It is not to profit or gain from it. The amount of insurance required must be calculated by giving due consideration to factors such as the future value of the costs being sought to be replaced, the period for which protection is required, and the ability to bear the cost of insurance.
    • Estimate the tenure for which the insurance is required– Longer the coverage tenure higher is the yearly premium from the first year itself. Thus, taking a life insurance policy that has a higher premium because it covers death after retirement can also be considered wasteful.
    • Identify the most suitable insurance product- Having decided on the insurance coverage, the next decision is the choice of product. Various types of insurance products are discussed in the next section.
    • Optimize the insurance premium- Within the same insurance product and coverage, there are choices that help the insured reduce the insurance premium. 
    • Monitor the insurance coverage- Insurance is not a one-time activity. The exposure and coverage need to be monitored continuously. Where necessary, the policy coverage would need to be modified to mitigate additional risks.

 

Unit linked insurance products (ULIPs)-

(1) Lock-in period increased to five years: IRDA has increased the lock-in period for all Unit Linked Products from three years to five years, including top-up premiums, thereby making them long-term financial instruments which basically provide risk protection.

(2) Level Paying Premiums: Further, all regular premium /limited premium ULIPs shall have uniform/level paying premiums. Any additional payments shall be treated as a single premium for the purpose of insurance cover.

(3). Even Distribution of Charges: Charges on ULIPs are mandated to be evenly distributed during the lock-in period, to ensure that high front-ending of expenses is eliminated.

(4). Minimum Premium Paying Term Of Five Years: All limited premium unit-linked insurance products, other than single premium products shall have a premium paying term of at least five years.

(5). Increase In Risk Component: Further, all unit linked products, other than pension and annuity products shall provide a mortality cover or a health cover thereby increasing the risk cover component in such products.

(i) The minimum mortality cover should be as follows:

Minimum Sum assured for age at entry of below 45 years

Minimum Sum assured for age at entry of 45 years and above

Single Premium (SP) contracts:  125 percent of single premium.

 Regular Premium (RP) including limited premium paying (LPP) contracts: 10 times the annualized premiums or (0.5 X T X annualized premium) whichever is higher.  At no time the death benefit shall be less than 105 percent of the total premiums (including top-ups) paid.

Single Premium (SP) contracts:   110 percent of single premium

Regular Premium (RP) including limited premium paying (LPP) contracts: 7 times the annualized premiums or (0.25 X T X annualized premium) whichever is higher.  At no time the death benefit shall be less than 105 percent of the total premiums (including top-ups) paid.

 

(In case of whole life contracts, term (T) shall be taken as 70 minus age at entry)

(ii)The minimum health cover per annum should be as follows:

 

Minimum annual health cover for age at entry of below 45 years

Minimum annual health cover for age at entry of 45 years and above

Regular Premium (RP) contracts: 5 times the annualized premiums or Rs. 100,000 per annum  whichever is higher,

At no time the annual health cover shall be less than 105 percent of the total premiums paid.

Regular Premium (RP) contracts: 5times the annualized premiums or Rs. 75,000 per annum whichever is higher. 

At no time the annual health cover shall be less than 105 percent of the total premiums paid

 (6). MINIMUM GUARANTEED RETURN FOR PENSION PRODUCTS: As regards pension products, all ULIP pension/annuity products shall offer a minimum guaranteed return of 4.5% per annum or as specified by IRDA from time to time. This will protect the life time savings for the pensioners, from any adverse fluctuations at the time of maturity.

(7). RATIONALISATION OF CAP ON CHARGES: With a view to smoothening the cap on charges, the capping has been rationalized to ensure that the difference in yield is capped from the 5th year onwards. This will not only reduce the overall charges on these products but also smoothen the charge structure for the policyholder.

Insurance Agents, Direct Brokers and Corporate insurance Agent.

Do’s and Don’ts under SEBI (IA) Regulations

SEBI Investment Adviser (IA) Regulations provide an exemption to an insurance agent or insurance broker registered with IRDAI who offers investment advice solely on insurance products. However, if the insurance agent or insurance broker also offers investment advice on non-insurance securities or investment products then such advice would be covered by IA regulations. In that case, while advising on insurance-based security or Investment products also the IA cum insurance intermediary would need to keep the principle of risk profiling, suitability, and fiduciary responsibility to the client in mind.

176th 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. Users 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 trading near the support level which is formed by the Cup and handle pattern breakout level, now price trading at an important level with indecisive movement, If price able to break the 17600 level and sustain above this we can see some possible bounce and this may lead towards the 18000 to 18400 levels and now if price able to break the 17400 level and sustains below this we can see some major downside towards the 16800-16600 levels with the help of 17600 resistance level. 

Nifty Bank-

Nifty Bank’s daily chart perfectly moved as per the chart and now price trading near breakout level which is working as support level and now if price breaks the 38000 level and sustains above this we can see some major upside towards the 39000 to 39500 levels with the help of 37600 support level on the chart. 

If Nifty Bank’s daily chart breaks the 37000 level we can see some major fall in the chart and the price will consolidate between the 35000 to 36500 levels according to the chart pattern. 

Nifty Metal-

The Nifty Metal’s Daily chart perfectly moves as per the Rectangle Pattern and now price moving upside with strong candlesticks, now price facing some indecisive movement, if price able to break the 6825 level and sustain above this we can see some major upside in the chart and if price not able to move upside and if price break the 6400 level and sustain below this we can see some major fall and if price able to break below 6200 level we cabn see sopme more consolidation between the 6200 to 5000 range. 

Nifty Auto-

Nifty Auto’s daily chart is perfectly moving upside with the Cup and handles pattern and now the price is trading near the recent resistance level which is now a support level if the price is able to take support at the 10800 level we can see some possible upside towards the 11250-11750 levels with the help of 10500 level and if price not able to move upside and break the support level we can see some fall towards the 10000-9500 levels with the help of 11000 resistance level. 

Nifty FMCG-

Nifty FMCG’s daily chart perfectly moves as per the inverted head and shoulder pattern and now the price is moving upside with a strong candlestick, this may lead the price towards the 39200/43000 levels in the coming days with the help of 37500 support level on the chart. 

If Nifty FMCG’s daily chart fails to move upside and if the price break the 36800 level and sustains below this we can see some more consolidation between the 36800 to 34000 range. 

Nifty Energy-

Nifty Energy’s daily chart is one of the best examples of a Rectangle Pattern and after breakout price moves from 25000 to 28000 level as per the pattern. Price trading upside and now price formed the dark loud pattern and now if price able to break the 285000 level and sustain below this we can see some major fall in the chart and if price able to break the 228700 level and sustains above this we can see some major upside on the chart. 

Nifty Realty-

Nifty Realty’s daily chart trading between the Rectangle Pattern and currently price is near the middle line and forming the bearish candlestick at resistance, now price need to break the 450 level and if price break this we can see some fall towards the 420-400 levels with the help of 470 resistance level.

If Nifty Realty’s chart fails to move downside and if price able to break the 480 level and sustains abvoe this we can see some major upside towards the 520-560 levels with the help of 450 support level on the chart.  

Breakout Charts

Indian Oil Corporation Limited (IOC)-

IOC’s daily chart is trading near the Double Bottom pattern and now the price needs to just cross the 130 level we can see some major upside towards the 137-142 levels with the help of the 120-122 support level on the chart. 

If IOC’s daily chart fails to move upside and falls below the 120 level we can see some consolidation between the 125 to 107 range. 

Apollo Hospitals Limited (APOLLOHOSP)-

Apollo Hospitals’ 240Min chart trading between the Symmetrical Triangle Pattern and now if price able to break the 4766 level and sustains above this or break with volume, we can see some major upside towards the 5300-5700 levels with the help of 4500 support level on the chart. 

If Apollo Hospitals’ chart fails to break the resistance and falls below the 4500 level we can see some major fall in the chart. 

Oil and Natural Gas Limited (ONGC)-

ONGC’s 120Min trading above diagonal resistance level we strong volume and price, and price consolidating here and now if price able to break the 175 level and sustains above this we can see some major upside towards the 184-190 levels with the help of 170-168 support level on the chart. 

If Ongc’s chart fails to move upside and if the price falls below the 168 level we can see some major fall in the chart with the help of the 175 resistance level. 

Indraprastha Gas Limited (IGL)-

IGL’s daily chart has formed the inverted head and shoulder pattern and now price gaining strength with volume and now if the price is able to break the 390 level and sustains above this we can see some major upside towards the 430 to 470 levels with the help of 370 support level on the chart. 

If IGL’s daily chart is not able to break the resistance level and trade below this 390 level we can see some more consolidation between the 390 to 360 levels. 

Honeywell Auto Industry Limited (HONAUT)-

Honaut’s daily chart trading between the Rectangle Pattern and now price is trading near the support level and formed the hammer pattern in the last encounter and now if price can move towards the 43000-48000 levels in coming days with the help of 38000 to 38500 support level on the chart. 

If Honaut’s chart fails to move upside and if the price is able to break the 38000 level and sustains below this we can see some major fall towards the 35000-33000 levels with the help of the 41000 resistance level. 

Marico Limited (MARICO)-

Marico’s 15Min Chart trading between the Symmetrical Triangle Pattern and now price forming the strong Doji patterns and now if prie able to break the 522 level with strong volume or price sustains above this we can see some major upside towards the 535-545 levels in coming days with the help of 515 support near the chart. 

If 15Min Chart fails to move upside and the price is able to break the 512 support level we can see some major fall in the chart with the help of the 525 resistance level. 

Breakdown Charts

Ashok Leyland Limited (ASHOKLEY)-

Ashok Leyland’s daily chart trading between the Rectangle Pattern and now price trading near the resistance level and formed some bearish pattern and now if price able to break the 125 level and sustain below this we can see some fall towards the 116-108 level with the help of 132 resistance level. 

If Ashok Leyland’s daily chart fails to move downside and if the price is able to break the 132 level we can see some major upside in the chart with the help of the 120 support level on the chart. 

Dr. Reddy Labs Limited (DRREDDY)-

Dr. Readdy Labs’ 120Min chart trading near the Rectangle Pattern and now price trading near the support level, if price able to break the 4270 level and sustain below this we can see some major fall towards the 4100-3900 levels with thehelp of 4400 resistance level. 

If Dr. Reddy Labs’ 120Min fails to move downside and if the price is able to break the 4450 level we can see some major upside in the chart. 

Pi Industries Limited (PIIND)-

PI Industries’ daily chart is a perfect example of a Double Bottom pattern and now the price is trading near the resistance level and formed a bearish engulfing pattern, if the price is able to sustain below the 2900 level we can see some major fall towards the 2700-2500 levels with the help of 3030 resistance level on the chart. 

If Piind’s daily chart fails to move downside and if the price breaks the 3070 level and sustains above this we can see some major upside towards the 3350-3450 levels. 

Sun TV Network Limited (SUNTV)-

Sun Tv’s daily chart trading between the Rectangle Pattern and now price trying to reverse from the resistance with dark cloud pattern, now if price able to break the 500 level we can see some fall towards the 460.00 to 420.00 level with the help of 540.00 resistance level on the chart. 

If Sun Tv’s daily chart fails to move downside and if the price is able to break the 540.00 level we can see some upside in the chart towards the 580 level and this 580 level going to play a major role in Rectangle Breakout in the chart. 

Cash Charts

Pearl Polymers Limited (PEARLPOLY)-

Pearl Polymers daily chart trading near the major strong resistance Cleveland if price able to break the 23.50 level and sustains above this we can see some major upside towards the 32.00-42.00-50.00 levels with the help of 16.00-18.00 support level on the chart. 

If Pearl Polymer’s chart is not able to break the 23.5 level and is not able to sustain above this we can see some fall and this breakout will be not valid. 

Pearl Polymers’ chart trading with low volume, so the chances of speculation are high. 

Coral India Finace Limited (CORALFINAC)-

Coralfinac’s weekly chart failed to move upside as per the recent breakout in Rectangle pattern at 30 level and now price trading near breakout support level with rectangle pattern, and now price trying to bounce from support with strong volume, now price can move towards the 55.00 level soon and if price able to break the 55.00 level and sustains above this we can see some major upside towards the 75.00-95.00 levels with the help of 35.00 support level. 

If Coralfinac’s weekly chart fails to move upside and if the price breaks the 35.00 level we can see some major fall in the chart. 

Seshasayee Paper Limited (SHASHAPAPER)-

Seshasayee Paper’s daily chart has given a breakout in the Pole and Flag pattern, with strong volume and price, now stock can move towards the 225 levels in coming days with the help of 185.00 support level on the chart. 

If Seshasayee’s daily chart falls below the 180 level we can see some more consolidation and fall below the 180 level on the chart. 

VIP Clothing Limited (VIPCLOTHNG)-

VIP Clothing’s weekly chart has given a breakout in the Rounding Bottom pattern and now the price is moving upside with strong volume, now price can move towards the 50.00 to 65.00-90.00 levels in the coming days with the help of the 20.00 support level on the chart. 

VIP Clothing is less volume stock or this is illiquid stock so the chance of possible speculation is high in this stock. If the Price fails to move upside and trade below the 20 levels we can see some major fall in the chart and more consolidation between the rounding bottom pattern. 

Kamat Hotels (India) Limited (KAMATHOTEL)-

Kamat Hotels’ weekly chart perfectly moved as per the rounding bottom pattern and now price moving upside with strong volume and price, now price can move towards the 110-140 levels in coming days with the help of 65.00 support level on the chart pattern. 

If Kamat Hotels’ weekly chart fails to move upside and falls below the 65 levels we can see some more consolidation between the 65 to 50 range. 

Nahar Ind Enterprises Limited (NAHARIND)-

Nahar Ind’s daily chart has given a breakout in fresh pole and flag pattern, with strong volume and price, now price can move towards the 300-350 levels in coming days with the help of 180 support level on the chart. 

If Nahar Ind’s daily chart fails to move upside and sustains below the 170 level we can see some major fall towards the 140-120 levels. 

Charts to Watch

BLB Limited (BLBLIMITED)-

BLB Limited’s daily chart perfectly moves as per the Rounding Bottom pattern and now price again gaining some strong strength in price, we can see some major upside towards the 52.00-73.00 levels in coming days with the help of 15/10 support level on the chart. 

If BLB Limited daily chart fails to move upside and the price trade below the 12 levels we can see some major fall in the chart. 

Walchandnagar Ind Limited (WALCHANNAG)-

Walchandnagar Ind’s weekly chart trading between the strong and long Rectangle Pattern or we can consider this pattern as rounding bottom pattern, and now if price able to break the 80 levels and sustains above this we can see some major upside towards the 140 to 200 levels with the help of 50-60 support level on the chart. 

If Walchandnagar’s daily chart fails to move upside and is not able to break the resistance we can see more consolidation between the 50 to 90 levels. 

Apollo Pipes Limited (APOLLOPIPE)-

Apollo Pipes’ daily chart has given a breakout in Descending Channel pattern with strong volume and price, now price can move towards the 720 to 820 levels in coming days with the help of 530 support level on the chart. 

If Apollo Pipes’s daily chart fails to move upside and trade below the 530 level we can see some fall and consolidation between the 530 to 400 consolidation zone. 

Reliance Industry and Infra Limited (RIIL)-

RIIL’s daily chart forming patterns like Pole and Flag pattern, now if price able to break the 1030 level and sustains above this we can see some major upside towards the 1150 to 1250 levels in coming days with the help of 850-900 support level on the chart. 

If RIIL’s chart fails to break the 1030 level we can see some more consolidation between the 1030 to 650 levels. 

Redington India Limited (REDINGTON)-

Redington India’s daily chart trading between strong Rectangle Pattern and now price moving upside with strong volume, and still price trading near the resistance level, if price able to break the 180 level and sustains above this we can see some major upside towards the 210/230 levels in coming days with the help of 155-140 support level on the chart. 

If Redington India’s daily chart fails to break the 180 level we can see some more consolidation between current range 180 to 140 levels. 

Commodity Charts

CRUDEOIL-

Crude Oil’s 240Min chart perfectly bounced from 7000 level as per our last week’s chart and now price is moving upside with strong volume and still price looking good, we can see some major upside towards the 8600 to 9000 levels with the help of 7600 support level on the chart. 

If Crudeoil’s daily chart fails to move upside and falls below the 7500 level we can see some more consolidation between the 7500 to 7000 consolidation zone.

SILVER-

Silver’s 120Min Chart perfectly moved as per last week’s Falling Wedge Pattern and now price trading near the small resistance level, if price able to break the 69600 level and sustains above this we can see some major upside towards the 71000-72800 levels post price confirmation with the help of 68000 support level on the chart. 

If Silver’s 120Min Chart fails to confirm the small breakout and falls below the 67500 level we can see some more consolidation between the 65500 to 67500 zone.

GOLD-

Gold’s 120Min chart perfectly moved as per the last week’s inverted head and shoulder pattern, and now price trading in the middle of pattern upside and consolidating here, if price able to break the 83250 level and sustains abvoe this w can see some major upside towards the 54250-55000 levels in coming days with the help of 52250 support level on the chart. 

If Gold’s chart is not able to move upside and if the price breaks the 52000 level we can see some consolidation between the 51000 to 52000 consolidate zone (Right Shoulder’s range)

COPPER-

Copper’s chart not moving much and currently trading between the small range, and this range forming the Rectangle pattern with the range of 830 resistance and 800 support level, if the price is able to break the 830 level and sustains above this we can see some major upside towards the 850-865 levels in coming days with the help of 815 support level and if price able to break the 800 support level we can see some major fall in the chart with the help of 825 resistance level. 

175th 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. Users 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 Chart trading near the recent resistance level which is performing as support now, and now price forming the bullish candlestick here and now price can move towards the 18000 to 18400 levels in coming days with the help of 17600 support level on the chart. 

If Nifty’s chart fails to move upside and if price break the 17600 level we can see some consolidation between the 17200 to 17600 levels in the chart.

Nifty Bank-

Nifty Bank’s daily chart perfectly moved as per the chart and now price trading near breakout level which is working as support level and now price trying to bounce here and now if price break the 38000 level and sustains above this we can see some major upside towards the 39000 to 39500 levels with the help of 37600 support level on the chart. 

If Nifty Bank’s daily chart breaks the 37000 level we can see some major fall in the chart and the price will consolidate between the 35000 to 36500 levels according to the chart pattern. 

Nifty IT-

Nifty IT’s 4h chart perfectly moved as per the falling wedge pattern and now the price is moving upside with Rising Wedge Pattern and price break the major support and price moving downside and price can move towards the 34000-32500 levels in coming days with the help of 36500 resistance level on the chart. 

If Nifty IT’s chart fails to move downside and price is able to break the 36500 level and sustains above this we can see some major upside towards the 38500 to 39500 levels in coming days with the help of 35400 support level on the chart. 

Nifty Metal-

The Nifty Metal’s Daily chart perfectly moves as per the Rectangle Pattern and now price moving upside with strong candlesticks, now price can move towards the 7000-7200 levels in coming days with the help of 6400 support level on the chart. 

If the Price is not able to move upside and if the price breaks the 6300 level we can see some more consolidation between the Rectangle Pattern, in 6300-5600-5000 levels. 

Nifty Auto-

Nifty Auto’s daily chart is perfectly moving upside with the Cup and handle pattern and now the price is moving upside with strong volume, and now if the price is able to break the 11000 level and sustains above this we can see some major upside towards the 11400-11800 levels in coming days with the help of 10600 support level on the chart. 

If Nifty Auto’s chart is not able to move upside and the price break the 10600 level and sustains below this we can see some more consolidation between the 10600 to 9400 level. 

Nifty FMCG-

Nifty FMCG’s daily chart perfectly moves as per the inverted head and shoulder pattern and now the price is moving upside with a strong candlestick, this may lead the price towards the 39200/43000 levels in the coming days with the help of 37500 support level on the chart. 

If Nifty FMCG’s daily chart fails to move upside and if the price break the 36800 level and sustains below this we can see some more consolidation between the 36800 to 34000 range. 

Breakout Charts

Syngene International Limited (SYNGENE)-

Syngene International’s daily chart trading between the Rectangle Pattern and now price moving upside with strong volume and strong price, the price may break the rectangle pattern soon and price may move towards the 750-800 levels in coming days with the help of 620/600 support level on the chart. 

If Syngene’s daily chart fails to move upside we can see some more consolidation between the 680-590-500 levels. 

ITC Limited (ITC)-

ITC’s Weekly chart has given a breakout in the Cup and Handle pattern with strong price formation in a few weeks’ candlesticks, now price can move towards the 300 to 320 levels in the coming days with the help of 244/260 support level on the chart pattern. 

If ITC’s weekly chart fails to move upside and if the price breaks the 250 level we can see some more consolidation between the 220-250 levels in the range.

Polycab India Limited (POLYCAB)-

Polycab’s daily chart trading between the Rectangle pattern and now price is moving upside with strong volume and price, now if price able to break the 2750 level and sustains here above this we can see some major upside towards the 2950-3100 levels in coming days with the help of 2600 support level on the chart. 

If Polycab’s chart fails to move upside we can see some more consolidation between the 2780 to 2200 levels. 

Apollo Tyres Limited (APOLLOTYRE)-

Apollo Tyres’ daily chart moved perfectly from support and now the price has broken the rectangle support (which is working as Resistance) and again price enter into the Rectangle Pattern we can see some more consolidation with upside, price can move towards the 225 to 250 levels in coming days with the help of 190 support level on the chart. 

If Apollo Tyres’ daily chart fails to move upside and prices fall below the 200 level we can see some more consolidation between the 175 to 200 levels. 

Jsw Steel Limited (JSWSTEEL)-

Jswsteel’s daily chart perfectly moved as per our Descending Channel pattern 666 to 756 level and now price trading near the major resistance level and now if price able to break the 777 level and sustains abvoe this we can see some major upside towards the 820-860 levels with the help of 730 support level on the chart. 

If Jswsteel’s daily chart fails to break the 777 level we can see some reversal from the chart and the price may fall towards the 680/660 level with the help of the 780 resistance level. 

SBI Life Insurance Limited (SBILIFE)-

Sbi Life Insurance’s 4H Chart has given a breakout in the inverted head and shoulder pattern now price is moving upside with strong volume and price, and now price can move towards the 1220-1280 levels in coming days the help of 1100 support level on the chart. 

If Sbilife’s chart fails to move upside and if the price breaks the 1100 level and sustains below this we can see some major fall in the chart. 

Breakdown Charts

Maruti Suzuki Industry Limited (MARUTI)-

Maruti’s daily chart is trading near some strong resistance level and now price forming the pattern like double top pattern and now price reversing from the strong candlestick pattern with and with strong volume, now price can move towards the 7000-6800 levels in coming days with the help of 7800-7600 resistance level on the chart. 

If Maruti’s chart fails to move downside and the price is able to break the 7850 level we can see some major upside and this may lead us towards the 8600-9000 levels with the help of the 7500 support level. 

Tech Mahindra Limited (TECHM)-

Tech Mahindra’s daily chart moving in downside and now the price forming a more bearish candlestick now price can move towards the 1350-1240 levels in the coming days with the help of the 1480-1500 resistance level on the chart. 

If Tech Mahindra’s daily chart fails to move downside and the price is able to break the 1520 level we can see movement towards the 1600-1680 levels in the coming days with the help of the 1540 resistance level on the chart. 

Canfin Homes Limited (CANFINHOME)-

Canfin Homes’ daily chart is trading near the resistance level and now the price forming the dark cloud here, now price can move towards the 600-540 levels in the coming days with the help of the 580 resistance level on the chart pattern. 

If Canfinhomes’  daily chart fails to move downside and if the price breaks the 675 level and sustains above this we can see some major upside in the chart. 

ICICI Lombard General Insurance Limited (ICICIGI)-

Icici Lombard’s daily chart trading between the Rectangle Pattern and now price trading near the major middle resistance line, now if price able to break the 1360 level we can see some major fall towards the 1280-1200 levels with the help of 1380 resistance level. 

If Icicigi’s daily chart breaks the 1400 level and sustains above this we can see some major upside towards the 1550-1600 levels post-breakout with the help of the 1350 support level on the chart. 

Cash Charts

Lambodhara Textile Limited (LAMBODHARA)-

Lambodhara Textile’s weekly chart trading in the Rounding bottom pattern and now if the price is able to break the 130 level and sustains above this we can see some major upside towards the 200-275 levels in coming days with the help of 75-80 support level on the chart pattern. 

If the Price is not able to break the 130 level we can see some more consolidation between the 70 to 130 range, and now if the price is able to break the 70 level and sustains below this we can see some major fall in the chart.

Hathway Cable Limited (HATHWAY)-

Hathway Cable’s daily chart trading in the Falling Wedge Pattern now price is moving upside with strong volume and price, now if price able to break the 21/21.5 level and sustains abvoe this we can see some major upside towards the 28-38 levels in coming days with the help of 16 support level on the chart. 

If Hathway’s daily chart is not able to break the 21 resistance level we can see some more consolidation between the 21 to 16 levels according to chart. 

Siyaram Silk Limited (SIYSIL)-

Siyaram Silk’s weekly chart perfectly moves as per the recent chart at the 200 to 551 level and now the price has given breakout in the pole and flag pattern now price can move towards the 680-760 levels in coming days with the help of 480-460 support level on the chart pattern. 

If the Price is not able to move upside and if the price falls below the 480 level we can see some consolidation between the 520 to 400 level and if price break the 400 level we can see some major fall in the chart. 

Time Technoplast Limited (TIMETECHNO)-

Time Technoplast’s weekly chart has formed the cup and handle pattern and now the price is moving upside with strong volume, now if the price is able to break the 92 levels we can see a major upside towards the 130-180-210 levels post-breakout with the help of 70 support level in the chart. 

If Time Techno’s daily chart fails to move upside and is not able to break the 92 levels we can see some more consolidation between the 92 to 65 levels in the chart. 

Emmbi Industries Limited (EMMBI)-

Emmbi Industries’ weekly chart has formed the Symmetrical Triangle Pattern now if the price is able to break the 110 level and sustains above this we can see some major upside towards the 150-210-240 levels after the breakout with the help of 90 support level on the chart. 

If Emmbi’s chart fails to move upside and is not able to break the 110 level we can see some more consolidation between the 110 to 90 levels and if the price is able to break the 90 level and trade below this we can see some major fall towards the 60-50 level. 

Cords Cable Industries Limited (CORDSCABLE)-

Cords Cable Industries’ weekly chart formed the cup and handle Pattern , now if the price is able to sustain above the 66 levels and sustains above this we can see some major upside towards the 100-130 levels in coming days with the help of 50 support level on the chart. 

if Cords Cable fails to move upside and the price falls below the 50 levels we can see some consolidation and fall in the chart with the help of 62 resistance level on the chart. 

 

Charts to Watch

Hindustan Composite Limited (HINDCOMPOS)-

Hindustan Composite’s weekly chart trading between the cup and handle pattern and now price is moving upside and now if the price break the 360 level and sustains above this we can see some major upside towards the 480-600 levels in coming days with the help of 280 support level on the chart. 

If Hindustan Composite’s chart fails to move upside and sustains below this we can see some more consolidation between the 360 to 240 range which is a rectangle pattern in the chart. 

Zuari Agro Chemical Limited (ZUARI)-

Zuari Agro’s weekly chart has given a breakout in the Cup and Handle pattern with strong volume and this is one of the highest volumes in the life of Zuari chart and now price, moving upside with strong volume price can move towards the 280.00 to 400.00 levels in coming days with the help of 120/100 support level on the chart. 

If Zuari Agro’s chart fails to move upside and price fall below the 150 level we can see some consolidation and price trade between the 160 to 100 level which is rectangle pattern or handle of cup and handle pattern. 

Minda Corp Limited (MINDACORP)-

Minda Corp’s weekly chart has given a breakout in the Curve Pattern with strong volume and price, now price can move towards the 300-350 levels in the coming days with the help of the 210 support level on the chart. 

If Minda Corp’s weekly chart fails to move upside and if price fall below the 210 level we can see some major fall in the chart. 

Agro Phos India Limited (AGROPHOS)-

Agro Phos daily chart forming the cup and handle pattern and now price needs to break the 35 level and sustains above this we can see some major upside towards the 50 to 80 levels in coming days with the help of 20 support level on the chart. 

If the Price is not able to move upside and not able to break 35 levels we can see some more consolidation between the 35 to 20 levels in the chart. 

Raymond Limited (RAYMOND)-

Raymond’s weekly chart has given a fresh breakout in the major resistance level with strong volume, now price is moving upside towards the 1100-1150 levels in the coming days with the help of the 750 support level on the chart. 

If the Price is not able to move upside and price break the 800 level we can see a major fall in the chart with the help of the 850 resistance level on the chart.

Bharat Wire Ropes Limited (BHARATWIRE)-

Bharat Wire’s weekly chart has formed the cup and handle pattern and now the price need to break the 85 levels and sustain above this we can see some major upside towards the 120 to 150 levels in coming days with the help of 60 support level on the chart. 

If Bharat Wire’s weekly chart is not able to break the 85 levels and sustains below this we can see some more consolidation between the 50 to 85 levels in the chart. 

Commodity Charts

CRUDEOIL-

Crude Oil’s daily chart is trading near the major support level and now the price is forming the Doji pattern and now if the price is able to break the 7750 level and sustains above this we can see some major upside toward the 8750 to 9750 levels and if price not able to move upside and trade below the 7000 level we can see some major fall in the chart. 

SILVER-

Silver’s 2H chart trading in the Falling wedge pattern and now price trading near the major resistance level, if price able to break the 67500 level and sustains above this we can see some major upside towards the 69300 to 71200 levels in coming days with the help of 65600 support level on the chart. 

If Silver’s chart is not able to break the resistance level we can see some more consolidation between the 66500 to 65500 levels. 

GOLD-

Gold’s 4H chart has formed the inverted head and shoulder pattern, now if the price is able to break the 52250 level and sustains above this we can see some major upside toward the 53200-54400 levels in the coming days with the help of 51600 support level on the chart. 

If Gold’s chart is not able to break the resistance we can see some more consolidation between the 52200 to 51200 rectangle range. 

COPPER-

Copper’s 2H chart trading between the rectangle pattern 830 to 800 level and now if price able to break the 830 level we can see some major upside in the chart and if the price break the 800 level we can see some major fall in the chart. 

LEAD-

Lead’s Daily chart trading between the Rectangle pattern between the 192 to 180 level and now if price able to break the 178 level and sustains below this we can see some major fall in the chart and if price able to break the 192 level we can see some major upside in the chart. 

ALUMINIUM-

Aluminum’s 3H chart trading between the symmetrical triangle pattern and now price trading with a narrow range, if price breaks the 285 level and sustains above this we can see some major upside toward the 295 to 308 levels with the help of 275 support level and if price not able to move upside and if price break the 275 level we can see some major fall in the chart. 

174th 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. Users 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 Chart moving perfectly as per pattern and now the price has given a breakout in the Pole and Flag pattern, price moving upside with strong movement, this may lead the price towards the 18000 to 18400 levels in coming days with the help of 17400 support level on the chart. 

If the Nifty’s Chart fails to move upside and if the price break the 17400 level and sustains below this we can see some major consolidation between the 17400 to 16900 levels as per the chart formation. 

Nifty Bank-

Nifty Bank’s daily chart was finally able to cross the cup and handle pattern resistance and now the price is trading above this breakout level with strong volume and a strong candlestick pattern, now price can move towards the 38500 to 39500 levels in the coming days with the help of 36500 support level on the chart pattern. 

If Nifty Bank fails to move upside and if the price break the 36500 level and sustains below this we can see some major fall and this may lead price to consolidate between the 37000 to 35000 levels and if the price is able to break the 35000 level and sustains below this we can see some major fall in the chart. 

Nifty IT-

Nifty IT’s daily chart perfectly moving as per the falling wedge pattern and now price consolidating between the 36800 to 35200 range, and now if Price able to break the 36800 level and sustains here we can see some major upside towards the 38000 to 39200 levels with the help of 36000 support level on the chart. 

If Nifty IT’s daily chart fails to move upside and if the price is able to break the 35800 level and sustains below this we can see some major fall and the price may move towards the 34800 to 34000 levels below breakdown. 

Nifty Metal-

The Nifty Metal’s Daily chart has given breakout in the Rectangle Pattern and now price moving upside with some small candlesticks, we need to focus more on a candlestick, if these candles get strong with the upcoming movement we can see some major upside and this will lead to price for strong upside towards the 6800-7000 levels and if price not able to move upside and if the price break the 6300 level and sustains below this we can see some major fall in the chart and this will lead price consolidation between the Rectangle range. 

Nifty Energy-

The Nifty Energy’s daily chart moving upside after the breakout in the Rectangle Pattern, now price may move towards the 27500-29000 levels in the coming days with the help of the 25600 support level on the chart if the Price is not able to move upside and if the price falls below the 25200 level we can see some more consolidation between the 25200 to 22000 levels as per our chart range. 

Nifty Infra-

Nifty infra’s daily chart perfectly moved from support after forming a Double Bottom pattern, now the price may move towards the 5200-5360 levels in coming days with the help of 5000 support level on the chart, if Nifty Infra’s chart fails to move upside and if price falls below the 5000 level we can see some fall towards the 4800 levels. 

Nifty Auto-

Nifty Auto’s daily chart perfectly bounced from support and now price trading near the major resistance level, if price able to break the 10700/800 level and sustains above this we can see some major upside towards the 11200-12000 levels in coming days with the help of 10300 support level on the chart. 

If Nifty Auto’s daily chart fails to move upside and falls below the 10000 level we can see some consolidation between the 10000 to 9400 range which is a tight consolidation range. 

Nifty FMCG-

Nifty FMCG’s daily chart looking good here and now if the price is able to break the 37000 level we will have a fresh breakout in the cup and handle pattern, now price can move towards the 38000 to 39500 levels in the coming days with the help of 36000 support level on the chart. 

If Nifty FMCG’s daily chart fails to move upside and trade below the 37000 level we can see some more consolidation between the 37000 to 33500 range. 

Breakout Charts

Bharat Heavy Electronics Limited (BHEL)-

BHEL’s daily chart took perfect support at recent resistance which becomes support and now price is trying to bounce from support, and price moving upside with strong volume and price, now price can move towards the 60.00-65.00 levels in coming days with the help of 50.00 support level on the chart. 

If BHEL’s daily chart fails to move upside and falls below the 50.00 level we can see some consolidation between the 53 to 43 range, now if the price falls below the 43 levels we can see some major fall in the chart. 

Power Grid Corporation Limited (POWERGRID)-

Power Grid’s daily chart trading at fresh Rectangle Pattern and strong volume in last 3 days, now price is moving upside with strong volume and price, now price can move towards the 240.00-260.00 levels in coming days with the help of 215.00 support level on the chart. 

If Power Grid’s daily chart fails to move upside and if the price falls below the 210.00 level we can see some more consolidation between the 217.00 to 190.00 range. 

Bharat Petroleum Corporation Limited (BPCL)-

BPCL’s daily chart has given a breakout in the Descending Channel pattern and now price is moving upside with strong volume as well as price, now stock can move towards the 400 to 450 levels in coming days with the help of 360 support level on the chart, if price falls below the 360 level we can see some more consolidation between the 340 to 370 range. 

NTPC Limited (NTPC)-

NTPC’s daily chart has given a breakout in the Symmetrical Triangle Pattern with a strong volume, price, and breakaways gap, now price can move towards 155 to 170 levels in the coming days with the help of 135 support level on the chart. 

If NTPC’s daily chart falls below the 137 level we can see some more consolidation between the 137 to 125 level and a major fall below the 125 level on the chart. 

Indiabulls Housing Finance Limited (Ibullhsgfin)-

Indiabulls Housing Finance’s daily chart trading between the Rectangle Pattern and now price consolidating near the support, price moving upside with some strong candlestick and price, now price can move towards the 200-280 levels in coming days with the help of 140 support level on the chart. 

If Indiabulls daily chart falls below the 135 level we can see some major fall and this may move towards the 100-80 levels post breakdown on the chart. 

Manappuram Finance Limited (Manappuram)-

Manappuram Finance’s daily chart perfectly lands at support and price trying to move upside after forming strong consolidating near support and now if price able to break the 125 level we will have fresh reversal confirmation and this will lead the price towards the 150-160 levels in coming days with the help of 115 support level on the chart. 

If Manappuram’s daily chart fails to move upside and prices fall below the 110 level we can see some fall towards the 90-80 levels with the help of the 125 resistance levels on the chart. 

HDFC Asset Management Limited (HDFCAMC)-

HDFC AMC’s daily chart perfectly trades at major support and now the price trying to reverse for support and price is moving upside  with strong volume, now price can move towards the 2580 to 3000 levels in coming days with the help of 2000-2100 support level on the chart. 

If HDFC AMC’s chart falls below the major support level 2000 we can see some major fall towards the 1700-1500 levels with the help of the 2200 resistance level. 

Breakdown Charts

Atul Limited (ATUL)-

ATUL’s daily chart trading between the Rectangle pattern and now price trying to reverse from resistance and now price trying to fall from resistance with strong volume and price, now price can move towards the 9200 to 8300 levels in coming days with the help of 10400 resistance level on the chart. 

If ATUL’s daily chart fails to move downside and if the price break the 10800 resistance we can see a strong upside in the chart this may lead the price towards 13000-15000 levels with the help of the 9600 support level. 

Alkem Lab Limited (ALKEM)-

Alkem’s daily chart trading near the resistance line in Rectangle Pattern and price trying to reverse from the resistance line with strong volume as well as price, now price can move towards the 3300-3200 levels with the help of 3600-3700 resistance line on the chart. 

If Alkem’s chart fails to move downside and if the price is able to break the 3800 level and sustains above this we can see upside towards the 4000-4100 levels post breakout on the chart. 

Astral Limited (ASTRAL)-

Astral’s 4H Chart trading in the Rising Wedge Pattern, now if the price is able to break the 1950 level we can see some major fall towards the 1875-1800 levels in coming days with the help of the 2025 resistance level on the chart. 

If Astral’s chart fails to move downside and if the price is able to break the 2050 level and sustains above this we can see some major upside towards the 2200-2400 levels with the help of the 1925 support level. 

Persistent System Limited (PERSISTENT)-

Persistent’s daily chart trading near the resistance line and now price is trying to reverse from resistance with evening star formation and now if price breaks the 4700 level and sustains below this we can see some major fall towards the 4300-3900 levels in coming days with the help of 4900 resistance level on the chart. 

If Persistent’s daily chart fails to move downside and the price is able to break the 5000 level we can see some major upside in the chart with the help of the 4600 support level.

Cash Charts

Centrum Capital Limited (CENTRUM)-

Centrum Capital’s daily chart perfectly bouncing from support and now price moving with strong volume and price, now if the price is able to break the 31.00 level and sustain above this we can see some major recovery in the price and this may lead the price towards the 40.00/48.00 levels in coming days with the help of 24.00-22.00 support level on the chart. 

If Centrum Capital’s daily chart fails to break the 31.00 level we can see some more consolidation between the 31.00 to 22.00 level and a fresh breakdown below the 22.00 level on the chart. 

NCC Limited (NCC)-

NCC’s daily chart perfectly bounced from support with strong volume as well price, now stock can move towards the 80.00-96.00 levels in coming days with the help of 56.00 support level on the chart. 

If NCC fails to move upside and if the price breaks the 55.00 level we can see a major fall in the chart with the help of the 66.00 resistance level.. 

Indiabulls Real Estate Limited (IBREALEST)-

Indiabulls Real’s chart is trading at major support and now price is bouncing from support with strong volume and price, now price can move towards the 135-150-170 levels in the coming days with the help of 100.00 support level on the chart. 

If Indiabulls’ daily chart is not able to move upside and the price break the 100 level we can see some major fall in the chart. 

Andhara Paper Limited (ANDHRAPAP)-

Andhara Paper’s daily chart has given a breakout in the major rectangle pattern formation and now the price is moving upside  with some strong volume and price, now price can move towards the 375-450 levels in the coming days with the help of 275 support level on the chart. 

If Andhara’s chart fails to move upside and if the price breaks the 275 level we can see some more consolidation between the 275 to 190 range in the chart. 

Rashtriya Chemical and fertilizer Limited (RCF)-

RCF’s daily chart has given a breakout in the Rectangle Pattern with strong volume formation and in chart and now price also formed the strong volume during a breakout. Now Price can move towards the 130-160 levels in the coming days with the help of the 84.00 support level on the chart. 

If RCF’s daily chart fails to move upside and if the price breaks the 90 levels we can see some more consolidation between the 92 to 68 rectangle range. 

Taj GVK Hotels Limited (TAJGVK)-

Taj GVK Hotels’ daily chart has given a breakout in the Symmetrical Triangle Pattern with strong volume and price formation in the last 10 days, now price can move towards the 190-222 levels in the coming days with the help of 145 support level in the chart. 

If Taj Gvk’s daily chart fails to move upside and if the price trades below 140 level we can see some more consolidation between 120 to 140 levels. 

Charts to Watch

Vodafone Idea Limited (IDEA)-

Vodafone Idea’s daily chart trading between the Rectangle pattern and now price trading near the support level and now if price breaks the 10.50 level and sustains above this we can see some major upside towards the 12.5 to 16.00 levels post reversal confirmation on the chart. 

If Ideas daily chart break the 9.50 level and sustains below this we can see some major fall in the chart and the price can move towards the 7/6 level according to the chart. 

Gail India Limited (GAIL)-

Gail’s daily chart trading between the Rectangle pattern and now price moving upside with strong volume in the chart and now if price able to break the 170 level we will have a fresh strong breakout in the Rectangle Pattern and this will lead the price towards the 200 levels with the help of 150 support level. 

If Gail’s chart failed to move upside and trade between the rectangle pattern we can see some more consolidation between the 170 to 125 levels. 

Marksans Pharma Limited (MARKSANS)-

Marksans’ daily chart trading between the falling wedge pattern and now price moving upside with strong volume and price, if price able to break the 59 levels and sustains abvoe this we can see some major upside towards the 70.0-95.0 levels with the help of 45.00 support level on the chart. 

If Marksans’ daily chart fails to move upside and trades below the 59 levels we can see some more consolidation between the 40 to 60 consolidation range. 

Best Agrolife Limited (BESTAGRO)-

Best Agrolife’s 4H Chart trading in falling wedge pattern and now price trying to move upside with strong volume and price, now price can move towards the 1280-1340 levels in coming days with the help of 920.00 support level on the chart. 

If Best Agro’s daily chart fails to move upside and trades below the 760 level we can see a major fall in the chart. 

Subros Limited (SUBROS)-

Subros’ daily chart trading between strong consolidation range and now price formed the strong volume which indicating the strong bounce here, and now if price able to break the 400 level and sustains abvoe this we can see some major upside towards the 460-520 levels with the help of 360 support level on the chart. 

If Subros daily chart fails to move upside and if price trades below 300 level we can see some major fall. 

Hindustan Aeronaut Limited (HAL)-

HAL’s daily chart has given a breakout in the Rectangle Pattern with strong volume and price, now price can move towards the 1650-1750 levels in the coming days with the help of 1400 support level on the chart. 

If HAL’s daily chart fails to move upside and the price break the 1400 level we can see some consolidation between the 1460 to 1200 levels. 

Commodity Charts

CRUDEOIL-

Crude Oil’s daily chart is trading near the major support level and now the price is forming the Doji pattern and now if the price is able to break the 7750 level and sustains above this we can see some major upside toward the 8750 to 9750 levels and if price not able to move upside and trade below the 7000 level we can see some major fall in the chart. 

SILVER-

Silver’s daily chart trading between the Rectangle Pattern and price consolidating between the 74000 to 59000 range and now if the price is able to break the 74000 level and sustains above this we can see some major upside towards the 77000-79000 levels in coming days with the help of 70000 support level on the chart and if the price break the 59000 level and sustains below this we can see some major downside towards the 50000-48000 levels. 

COPPER-

Copper’s Daily chart taking support near recent breakout in Rectangle Pattern and now price is moving upside and now if price able to break the 825 level and sustains above this we can see some major upside towards the 845 to 880 levels in coming days with the help of 790 support level on the chart. 

Copper’s daily chart if able to break the 790 level and sustains below this we can see some fall and this will lead us to consolidation between 800 to 680 levels. 

LEAD-

Lead’s Daily chart trading between the Rectangle pattern between the 192 to 180 level and now if price able to break the 178 level and sustains below this we can see some major fall in the chart and if price able to break the 192 level we can see some major upside in the chart. 

173rd 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 bounced from support and now price trading between fresh range which is formed by small range 17400 to 17000 levels and last week price traded between this range and now we need to wait for a fresh breakout in the chart and if price able to break the 17400 level and sustains above this we can see some major upside towards 17800-18400 levels in coming days and if price not able to move upside and if price able to break the 17000 level and sustains below this we can see some major fall in the chart. 

Nifty Bank-

Nifty Bank’s daily chart facing resisatnce near 37000 level and price reversing after forming the dark cloud and now price trading with fresh small range 37000 to 35000 levels, now if price able to break the 37000 level and sustains above this we can see some major upside towards the 38000 to 40000 levels and if price not able to move upside and if price break the 35000 level down we can see some fall towards the 33000 to 32000 levels post breakdown on the chart. 

Nifty Metal-

The Nifty Metal’s Daily chart has given breakout in the Rectangle Pattern and now price moving upside with some small candlesticks, we need to focus more on a candlestick, if these candles get strong with the upcoming movement we can see some major upside and this will lead to price for strong upside towards the 6800-7000 levels and if price not able to move upside and if the price break the 6300 level and sustains below this we can see some major fall in the chart and this will lead price consolidation between the Rectangle range. 

Nifty Energy-

The Nifty Energy’s daily chart moving same as Nifty Metal, now price trading above the Rectangle pattern with good candlesticks, and now If price able to sustains above this 26000 level we can see some major upside towards the 27500-30000 levels in coming days with the help of 25200 support level on the chart. 

If Nifty Energy’s daily chart is able to break the 25000 level we can see some more strong consolidation between the big rectangle 25000 to 22000 range. 

Nifty Infra-

Nifty infra’s daily chart perfectly bounce from support and price moving upside, but this week price not able to move major upside but on Friday prie finally able to touch fresh swing high and now if price able to break the 5000 level and sustains above this we can see some major upside towards the 5200-5350 levels in coming days with the help of 4800 support level on the chart. 

If Nifty Infra’s daily chart is not able to move upside and if the price breaks the 4800 level we can see some consolidation between the lower range 4800 to 4500 levels. 

Nifty Pharma-

Nifty Pharma’s daily chart bouncing upside and now if price is able to break the 13900 level and sustains above this we can see some major upside towards the 14200 levels in coming days and this level will help us to decide the future in coming days and if price able to break the 14200 level and sustains above this we can see some major upside towards the 15000 levels. 

If Nifty Pharma’s daily chart falls below the 13400 level we can see some major fall and this will lead us in consolidation between the 13800 to 12400 levels. 

Nifty FMCG-

Nifty FMCG’s daily chart fails to move upside last week even after the breakout in V pattern and now price trading near the recent resistance level and now price consolidating near support and now if the price break the 36100 level and sustains above this we can see some major upside towards the 38000 level and this level will decide the future of stock and if price able to break the 38100 level and sustains abvoe this we can see some major upside towards the 41000 to 42000 levels with the help of 35000 support level on the chart. 

If Nifty FMCG’s chart fails to move upside and if the price breaks the 35000 support level we can see some major consolidation between the 35000 to 33000 levels in the chart. 

Breakout Charts

Godrej Properties Limited (GODREJPROP)-

Godrej Properties’ chart consolidated at the lower range and price consolidated between the 1600 to 1350 range and now price formed the inverted head and shoulder pattern and now if price able to break the 1630 level which is the neckline and sustains above this we can see some major upside towards the 1800 to 2000 levels in coming days with the help of 1550 support level on the chart. 

If Godrej Properties is not able to break the neckline or break with weak candlesticks we can see consolidation between the 1630 to 1350 range which is something like the rectangle pattern.

Interglobe Aviation Limited (INDIGO)-

Indigo’s daily chart bouncing from the Rectangle Pattern and now price moving with strong candlesticks with strong volume, now if price able to sustains above the 1950 level we can see some major upside towards the 2100-2300 levels with the help of 1800-1850 support level on the chart. 

If Indigo’s daily chart fails to move upside and if the price breaks the 1800 support level we can see consolidation between the 2000 to 1600 levels in the chart. 

Delhi Land & Finance Limited (DLF)-

DLF’s daily chart perfectly bounced from support after forming the bullish engulfing pattern and now price formed the pole and flag pattern, now if the price is able to break the 370 level and sustains above this we can see some major upside towards the 400 to 430 levels in coming days with the help of 350 support level on the chart. 

If DLF’s daily chart fails to move upside and trade below 350 level we can see some major consolidation between the 350 to 300 level which is the lower portion of the rectangle pattern.

Bajaj Auto Limited (BAJAJ_AUTO)-

Baja Auto’s daily chart perfectly bounced from the support and now price consolidating near the horizontal resistance line, and now if price able to break the 3670 line which will be a breakout in the double bottom pattern and above this p[rice can move towards the 3900-4200 levels in coming days with the help of 3550 support level on the chart. 

If Bajaj Auto’s chart fails to break the 3670 level we can see some more consolidation between the 3600 to 3100 range on the chart. 

Delta Corp Limited (DELTACORP)-

Delta Corp’s daily chart moving as per the recent Rectangle Pattern Breakout on the chart and still price moving upside with strong volume as well as strong price, stock can move towards the 360 to 390 levels in coming days with the help of 300 support level on the chart pattern. 

If Delta Corp’s daily chart fails to move upside and trading below the 300 level we can see some more consolidation between the rectangle range 300 to 240 levels. 

Breakdown Charts

NMDC Limited (NMDC)-

NMDC’s daily chart trading between the Rectangle pattern and now price trading near the upper line and now price formed the small shooting star and if price break the 150 level and sustains below this we can see fall towards the 140 to 128 levels with the help of 158 resistance level on the chart. 

If NMDC’s chart is able to break resistance (160) in place of reversal we can see some major upside towards the 175-190 levels. 

IDFC First Bank Limited (IDFCFIRSTB)-

IDFC First Bank’s daily chart fell with strong volume in last 5 days and price trading near the horizontal support level, If price able to break the 39 levels we can see some fall towards the 35 to 34 level with the help of 41 resistance level on the chart. 

If IDFC First Bank’s daily chart breaks the 44 levels and sustains above this we can see some major upside in the chart we can see some more trade between the 54 to 39 rectangle range. 

Honeywell Auto Industry Limited (HONAUT)-

Honaut’s daily chart trading near the lower line in the Rectangle Pattern, now if price able to break the 38000 level we can see some major fall in the chart and this may lead us to fall towards the 36000-34000 levels in coming days with the help of 41000 resistance level on the chart. 

If Honaut’s daily chart is not able to break the 38000 level and this will lead us to consolidation between our range 50000 to 38000 level and we can see some bounce from the support as per the chart. 

Dixon Technologies Limited (DIXON)-

Dixon Technologies’ daily chart falling in last few days and now price formed the inverted pole and flag pattern, and price breakdown will be below 4200 level in diagonal support line and breakdown below 4000 level in horizontal support line and this will lead us towards the 3600 to 3400 levels with the help of 4400 resistance level. 

If Dixon’s daily chart is not able to break the support and if the price is able to break the 4500 level we can see some major bounce in the chart and this will lead us towards the 5000 levels with the help of the 4200 support level.

REC Limited (RECLTD)-

REC’s daily chart trading at an important level which is formed by the recent price or recent support line and this is working as resistance, price formed the ascending triangle and now if price able to break the 120 level we can see some major fall and this may lead towards the 116-100 levels in coming days with the help of 128 resistance level on the chart. 

If Rec’s daily chart is able to break the 128 level and sustains abvoe this we can see some major upside in the chart and this may move towards the 140 level post breakout in the chart. 

Cash Charts

Goa Carbon Limited (GOACARBON)-

Goa Cabon’s Daily chart has given breakout in the Cup and Handle pattern with strong volume as well strong price formation here, now price can move towards the 650-800 levels with the help of 450 support level and this level is also breakout level of the cup and handles pattern. 

If Goa Carbon’s daily chart falls below 450 level we can see some more consolidation between the 450 to 300 levels which is a strong consolidation zone for the stock price. 

Som Dist and Breweries Limited (SDBL)-

SDBL’s daily chart has given breakout in the cup and handle pattern and price moves upside in last 3 days with strong volume, now price can move towards the 80 to 110/140 levels with the help of 50.00 support level on the chart. 

If SDBL’s daily chart fails to move upside and if the price falls below the 50 levels we can see some more consolidation between the 35 to 60 range in the chart. 

Ruchira Papers Limited (RUCHIRA)-

Ruchira’s daily chart has given breakout in the Cup and Handle pattern with strong volume in last 2 weeks and now price moving strongly with strong volume, now price can move towards the 140/180 levels with the help of 90 support level on the chart. 

If Ruchira’s daily chart falls below the 100 level we can see some more consolidation between the 100 to 75 level which is the handle consolidation range for the stock.

GFL Limited (GFLLTD)-

GFL Limited’s daily chart formed the falling wedge pattern and now if the price break the 80.0 level and sustains above this we can see some major upside towards the 90-110 levels with the help of 70.00 support level on the chart. 

If GFL’s daily chart falls below this 60 level and sustains below this we can see some major fall in the chart with the help of 80 resistance level on the chart. 

India Tourism Development Corporation Limited (ITDC)-

ITDC’s monthly chart trading with the cup and handle pattern and now if price able to break 440 level and sustains above this we can see some major upside towards the 560 to 680 levels in coming days with the help of 360 support level on the chart. 

If ITDC’s monthly chart fails to move upside and is not able to break the resistance we can see some more consolidation between the 450 to 320 range which handles range. 

Charts to Watch

Berger Paints Limited (BERGERPAINT)-

Berger Paints’ daily chart again entered into the Rectangle pattern and now price trading near the recent support level and trying to bounce with a piercing pattern, but volume is missing so we need to wait here for more confirmation if the price is able to break the 700 level and sustains above this we can see a bounce from support and this lead us for movement towards the 760-780 levels with the help of 675-660 support level on the chart. 

If Berger Paints fall below the 660 level we can see some major fall in the chart and this may lead the price towards the fresh low and 700 will play a role as a resistance level for the stock. 

ICICI Lombard General Insurance Limited (ICICIGI)-

ICICI Lombard’s daily chart trading between the Strong Rectangle Pattern and now price consolidating at support level and price formed the some misleading candlesticks here and now if price able to break the 1285 level and sustains above this we can see some major upside towards the 1400-1600 levels in coming days with the help of 1200 support level on the chart. 

If ICICI Lombard’s daily chart is not able to move upside and if the price breaks the 1200 level and sustains below this we can see some major fall and this may lead us to the 1000 level in the chart. 

Butterfly Gandhima Limited (BUTTERFLY)-

Butterfly’s 1H chart trading with small stick range between the 1340 to 1400 levels, and now if price able to break the 1400 level and sustains abvoe this we can see some major upside towards the 1500-1600 levels post-breakout and if price not able to break the resistance we can see some fall in the chart and if the price break the 1340 level and sustains below this we can see some major fall in the chart with the help of 1400 resistance level on the chart. 

Expleo Solutions Limited (EXPLEOSOL)-

Expleo’s daily chart bouncing from support and now price moving with strong volume and price also moving with some strength, now price can move towards the 1900 to 2100 levels in coming days with the help of 1500 support level on the chart. 

Expleo’s daily chart if not able to move upside and price falls below the 1300 level we can see some major fall in the chart with the help of 1700 resistance level on the chart. 

Windsor Machines Limited (WINDMACHIN)-

Windsor Machines weekly chart trading in the rectangle pattern between the 47 to 10 level and now if price able to break the 47 levels and sustains above this we can see some major upside towards the 70-100 levels in coming days with the help of 35 support level on the chart. 

Windsor daily chart if not able to break the resistance we can see some fall in the chart and more consolidation between the 48 to 10 range. 

Share India Securities Limited (SHAREINDIA)-

Share India’s daily chart bouncing from support, but volume supporting so much and still price not supporting this movement, but if price able to break the 1200 level and sustains above this we cans ee some major upside towards the 1400 to 1550 levels in coming days with the help of 1100-1000 support level on the chart. 

If Share India’s chart fails to move upside and if the price break the 1000 level and sustains below this we can see some major fall in the chart with the help of 1200 resistance level. 

Commodity Charts

CRUDEOIL-

Crude Oil’s daily chart moved upside according to chart and still price moving with strong price and some volume, now price can move towards the 9250 to 9750 levels in coming days with the help of 8250 support level on the chart. 

If Crude Oil’s daily chart is not able to move upside and if the price falls below the 8250 level we can see some major fall and this will lead to consolidation between the 8800 to 7250 levels. 

SILVER-

Silver’s daily chart trading between the Rectangle Pattern and now price is trying to reversal from the resistance, and now if price able to break the 67000 level and sustains below this price may fall towards the 65000 to 60000 levels in coming days with the help of 70000 resistance level on the chart. 

Silver’s daily chart bounced from recent price and if price able to break the 69300 level and sustains above this we can see some major bounce towards the 73000 levels and if price able to break the 73000 level we will have fresh and strong movement in coming days. 

COPPER-

Copper’s Daily chart taking support near recent breakout in Rectangle Pattern and now price is moving upside and now if price able to break the 825 level and sustains above this we can see some major upside towards the 845 to 880 levels in coming days with the help of 790 support level on the chart. 

Copper’s daily chart if able to break the 790 level and sustains below this we can see some fall and this will lead us to consolidation between 800 to 680 levels. 

LEAD-

Lead’s Daily chart trading between the Rectangle pattern and now price taking support near 180 level and now price started consolidating here and now if price able to break the 185 level we can see some price reversal in the chart and this may lead the price towards the 190 to 192 level and if price able to break the 180 level and sustains below this we can see some major fall in price and this may lead towards the 174 to 170 levels with the help of 185 resistance level on the chart.