vicky252

Avenue Supermarts Ltd - DMART - Positional Trade

Long
vicky252 Updated   
NSE:DMART   AVENUE SUPERMARTS
Date: 8-May-2024
Rating: Buy - Positional Trade
LTP: Rs. 4,806.75
Targets: (1) Rs. 5,180 --> (2) Rs. 5,900 --> (3) Rs. 7,577
SL: Rs. 4,450 on daily close basis

Technical View:
DMART is in its primary uptrend and was going through it's secondary downtrend.
• After breaking out from its 2.5 years long secondary down trend on 19-Mar-2024, DMART has started the upward journey.
• After making a new 52w high of 4,890 on 23-Apr-2024, it has taken support at 4,450 on 29-Apr-2024 and again started the upward journey on 30-Apr-2024.
• RSI is trading at 65.32 and MACD is trading at 84.74
• Looking strong from here on.

Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
Trade closed: stop reached:
31-May-2024:
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Stop loss hit. Call closed.
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