Breakout potential in DMART
Head and shoulder pattern
With rsi above 60
Stock is above all key Ema
Potential bullish move.
Plan of action -
let it sustain above is resistance and plan @ entry 4950 after stock closes above resistance and retest
Target - 5400
Sl- close below 4574 (50 Ema).
With rsi above 60
Stock is above all key Ema
Potential bullish move.
Plan of action -
let it sustain above is resistance and plan @ entry 4950 after stock closes above resistance and retest
Target - 5400
Sl- close below 4574 (50 Ema).
Note
sucessful breakout successful retest . we will wait for a bullish confirmation to confirm this is not a fake breakout.the stock had given a marubozu candle before at the breakout and also the breakout candle was a marubozu this further increases the potential for a successful breakout and upmove.the stock is moving above the key ema levels with a positive macd and rsi at 58.
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