Key Levels for DMART are : t.me - JOIN TELEGRAM CHANNEL
Please trade with caution and consult your financial adviser before trading. You can also join our...
Follow on twitter/telegram @piyushrawtani for live trading ideas.
DMART has formed a double top with good selling and expected to test bottom of range and then next support level.Can go short at CMP with and SL 1970 for targets of 1800 and 1700 respectively.
Buy At 1520-1510 Stoploss 1450 Target 1675
Reasons for trade- 1.Dmart has broken channel on daily chart
2.Channel break and retest of support at 1460 is done
3.Price has to complete rounding bottom on weekly chart
4. Festivals are coming near so consumer consumption will increase and so profits.
5.Risk Reward 1:2
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...