rishiguy

DMART: All targets done!

Long
NSE:DMART   AVENUE SUPERMARTS
Please check my idea posted about DMART on 21st July. Both targets have been reached. 5% return in 14 days. :)

Jul 21
DMART has been facing rejection from the 3400 level since the mid of June 2021. Despite these multiple rejections,
the lows that it makes are gradually becoming higher. It took support at 3250 on 18.06.21, then again on 29.06.21,
then it formed the next swing low at 3300 on 15.07.21.
___________________________________________________________________________________________________

If we zoom in to the 30 min chart, we can clearly see that the previous times when price reached the 3400 zone, it
was rejected severely, but on the latest occasion on 20.07.21, price has stuck close to that level for a couple of
hours and has closed very near to 3400, at 3397.
___________________________________________________________________________________________________
The formation on the daily chart resembles an ascending triangle and if we look closely, the volume has been
positive and increasing the past few sessions with above average volume on 20.07.21. If DMART does finally break
past this level, a long can be initiated if the price sustains above the "LONG ABOVE" level for 15 minutes, keeping
the following levels in mind:

LONG ABOVE: 3425
STOP LOSS: 3335
TARGET 1: 3515
TARGET 2: 3600

Remember, trade your plan, risk management is key.
Like and follow for more. :)
___________________________________________________________________________________________________

Jul 27
Trade active

Jul 27
Trade closed: target reached: Target 1 has been achieved at 3515 on 27.07.21.

13 minutes ago
Trade closed: target reached: Target 2 has been achieved at 3600 on 04.08.21.

5% return in around 14 days.
:)

Comments