Stock -> Dmart
TimeFrame -> Weekly
Dmart has been consolidating in a flag structure since October 2021, thus forming a flag and pole pattern. It finally broke out of it with good volumes last week. This makes for a good opportunity to go long.
There are multiple reasons which strengthen my conviction on going long:
1) The stock has...
the correction taken has over to certain level.
the script may start a rise from the CMP (or) the script may give a deep correction and then it may strat to raise.
recent quarter has shown a good results.
there are 2 possibility in impulse and one in corrective way nature. as of now we can go for the buy at CMP and we can average if the price come down....
Observing all the other oscillators and indicators, it is clearly seen that the rsi shows the uptick also the very basics of technical analysis : the candle stick shows the bullish engulfing. So combining all the basic candle stick study, the oscillator study , the trend analysis, the price action and the sentiments it was a very good swing call. Personally...
Please check my idea posted about DMART on 21st July. Both targets have been reached. 5% return in 14 days. :)
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...
Was going through this DMART chart and luckily enough got to analyse two bullish patterns in a single chart:-
1. Inverted Head and Shoulder
2. Rounded Bottom
If you look at the Inverted Head and Shoulder pattern it hit its target on the upside equal to the depth of the Head and then gave a break out completing the Rounding Bottom Pattern.
DMAT (Avenue Supermarts) is ready for big movement. Let's have a look at the weekly chart where in you can see that the stock is standing at 3317 levels and sustain above 3300 levels we can see the stock ride towards 4000+ levels in the coming 3-4 months time frame. The stock can be brought with the stop loss price at 2972 on closing basis.
The contents presented...
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...
DMART on 18 May gave a strong close after a RANGE BREAKOUT.
Fundamentally strong company is giving a technical indication to buy.
So let's just do it.
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict...