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AVENUE SUPERMARTS LIMITED

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DMART trade ideas

FY21-22 Swing Trade Idea #138:: Long on DMARTThis is a public swing trade idea (other private ideas accessible through website) and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
NSE:DMARTLong
by onerighttrade
DMART: All targets done!Please check my idea posted about DMART on 21st July. Both targets have been reached. 5% return in 14 days. :) Jul 21 DMART has been facing rejection from the 3400 level since the mid of June 2021. Despite these multiple rejections, the lows that it makes are gradually becoming higher. It took support at 3250 on 18.06.21, then again on 29.06.21, then it formed the next swing low at 3300 on 15.07.21. ___________________________________________________________________________________________________ If we zoom in to the 30 min chart, we can clearly see that the previous times when price reached the 3400 zone, it was rejected severely, but on the latest occasion on 20.07.21, price has stuck close to that level for a couple of hours and has closed very near to 3400, at 3397. ___________________________________________________________________________________________________ The formation on the daily chart resembles an ascending triangle and if we look closely, the volume has been positive and increasing the past few sessions with above average volume on 20.07.21. If DMART does finally break past this level, a long can be initiated if the price sustains above the "LONG ABOVE" level for 15 minutes, keeping the following levels in mind: LONG ABOVE: 3425 STOP LOSS: 3335 TARGET 1: 3515 TARGET 2: 3600 Remember, trade your plan, risk management is key. Like and follow for more. :) ___________________________________________________________________________________________________ Jul 27 Trade active Jul 27 Trade closed: target reached: Target 1 has been achieved at 3515 on 27.07.21. 13 minutes ago Trade closed: target reached: Target 2 has been achieved at 3600 on 04.08.21. 5% return in around 14 days. :)
NSE:DMARTLong
by Tradeception_