D’Mart (Consumption) Possible Throwback to breakout levelD’Mart (Consumption)
Chart Context:
D’Mart after its breakout near ₹4524 with EMAs aligned bullishly d'Mart Start Weakening and possible throwback to the breakout level. RSI is above 69, indicating strength. Fib levels highlight potential upside to ₹4,885 → ₹5,145.
Post Caption:
"D’Mart sustaining above ₹4,524 breakout zone.
Upside levels: ₹4,885 → ₹5,145.
Stop near ₹4,540.
🛒 Consumption theme continues to show leadership."
Throwback
Throwback after Upside Breakout
A throwback is the retracement that occur follow a breakout of resistance line and take support on that respected resistance which just broken, and turned into support. Throwback may provide a second entry opportunity if the initial breakout trade was missed. Some traders prefer to buy on the throwback.
ACC: Ascending Triangle BreakoutACC breakout of an Ascending Triangle with momentum. The height of the pattern suggests an upside target in the range of (1730-1735). However we notice a fine Fibonacci Retracement confluence at 1720, which will be an interesting level to keep a watch for. A throwback to the breakout level of 1705 should no be discounted.