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DMART: inverted H&S at support level

NSE:DMART   AVENUE SUPERMARTS
Dmart (Avenue Supermart) has formed an inverted H&S pattern ( Bullish Pattern ) on Daily Time frame.

As the stock is supposed to announce result, good result can take it to 3300 levels again while a bad result can lead it to Support level 1 and then to support 2 (Buyer are active in this range)

All levels are mentioned on the chart.

Just wait for clear breakout / breakdown either side on at least hourly timeframe to take the position.

DISC: For educational purposes only.



Comment: Target 1 reached and now trailing applied to cost after booking 50% here.

Comments

@Altradr so in dmart chart is volume proper to say that it's a h&s pattern?
Reply
@Altradr, That's why the entry should be taken only after the neckline is broken with the volume. H&S pattern's basic principle. I have covered this in the description section of the post. please re-visit.
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Altradr trade_opportunities
@trade_opportunities, yeah i got it in first read but my point was regarding volume. Leave it.
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@Altradr, If the stock has to break out or break down then we will see a volume spurt.
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your views on Bank of Baroda and PNB?
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trade_opportunities chinmaypatnaik
@chinmaypatnaik, Sorry, I don't look out for public sector banks.
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Nice view.
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