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
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Target 1 reached and now trailing applied to cost after booking 50% here.
@Altradr so in dmart chart is volume proper to say that it's a h&s pattern?
trade_opportunities
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@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.
Altradr
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@trade_opportunities, yeah i got it in first read but my point was regarding volume. Leave it.
trade_opportunities
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@Altradr, If the stock has to break out or break down then we will see a volume spurt.
Chinmayonniftyy
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your views on Bank of Baroda and PNB?
trade_opportunities
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@chinmaypatnaik, Sorry, I don't look out for public sector banks.