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.
Weekly Trend - UP Daily Trend - UP Taking support at 200 SMA & respecting trend line View - LONG @ 2335 SL - 2299 TGT 1 - 2376 TGT 2 - 2425
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.
THERE IS A DOUBLE BOTTOM BEING FORMED AND THE NECKLINE IS BROKE THERE IS RESISTANCE AT 2160 AND THE BEARISH TREND EXPIRED AND BULLISH TREND HAS BEGAN. (ALL THE ORDER TYPE I CHOOSE IS CNC) NEW SWING TRADER :)
Duration-10-30 days
ENTRY :- BETWEEN 1697-1728 SL :- 1551 TARGET :- 2100 Earlier dmart price has retraced twice from levels of 1697-1728 as shown in the figure It can be a good retracement trade !! Follow Entry,SL & Target Properly !!
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.
Breaking Long Trendline supported by RSI Would it take support at it's 200 MA?
Dmart is moving in a range. Breakout will see movement either side.
PRICE MOVING IN CHANNEL. RETEST AT CURRENT SUPPORT LEVEL GOOD FOR LONG TILL TARGET OF THE PREVIOUS ALL TIME HIGH
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