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.
Dmart forming continues negative Divergence.
Price will start falling if it can't hold the high if 2500-2400.
Trade with stop loss.
Once close below 1700 it will easily fall to 1000 or much lower level.
Sell Near 1455
Reasons for trade -1. Price has resistance at daily channel and 15 minute channel
2. Price formed bearish candlstick pattern on hourly chart
3.daily trend is down
4. Risk Reward 1:3
Dmart Sell at 1450 Stoploss 1505 Target 1350-1300
Resons For Trade- 1. price is Near to daily channel resistance from where excess selling is done three times. 2.Price has formed bearish candlstick pattern near channel resistance. 3 Price is about to break 15 minute channel support. 4. on 15 minute chart price is closed below 50 days EMA. 5 Risk Reward is 1:2
DMART looks set for a recovery. We could observe a confirmed bullish Ascending triangle pattern. Target of the pattern comes in at 1480. However, the price was rejected by the trendline resistance at around 1420. Going forward, if the trendline is breached expect the stock to raise towards the pattern target.
(Disclaimer: Our charts and contents are just for the...
Minor Correction has been see in Dmart , after it completed the ABCD Pattern( .50 - 2.00)- Refer markings
Currently is near its support, let see whether its gonna break it to correct more or make it to see new highs.