Follow these rules before buying : 1. The pattern break candle has good volume. 2. It retraces a little bit for last kiss. 3. Buy on the second green candle. The RR is of 5:1 Do follow for more such analysis
DMART (Avenue Supermarts) is trading near the 15 month trend line. If it takes support at this level, a up move is implied, if not it may go the lower levels. Cheers! Feel free to share your view about this. Happy Trading.
HOLDING BELOW 2200 , stock will continue its corrective journey & can lead to the level of 2000/1950 again.
As mentioned in the chart DMART approaching a very important levels. 2180-2200 levels will be crucial for DMART. If this opens below the level and fails to brk then one can look for shorting opportunities. If this level is broken tomorrow and sustained then one can initiate long position both on intraday and positional basis.
Duration-10-30 days
Strategy 1: Short below 1980 (sustained below on the 15 min chart) for T1: 1955, T2: 1900 with SL at 2020 Strategy 2: Short below 1955 (sustained on the 5min chart) for 1900 with SL at 1980 (For choice of trade entry levels - check the hourly chart) Long term Investing Idea - The stock is at a attractive price point around the 1900s. Expected to rebound up...
DMART has reached its support line and also RSI is showing in Oversold section. It might bounce from here to see 2375 levels in near term. This is my personal view and its always advisable to take suggestion from Financial advisor before taking any trades.
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
This Analysis Is Done Only For Educational & Intelligence Purpose, Invest Or Trade At your Own Risk & Will.
DMART (Avenue Supermarts) day chart study
FIRST SUPPORT IS NECKLINE OF HEAD & SHOULDER ITSELF
Buy DMART at CMP (2350+) T1: 2550 T2: 2630 T3: 2730 SL: 2265