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Avenue Supermarts Ltd.Avenue Supermarts Ltd.Avenue Supermarts Ltd.

Avenue Supermarts Ltd.

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DMART trade ideas

DMART - Inverse Head & Shoulder PatternIt is an Inverse Head & Shoulder Formation. On 18 may 2021, There is a Candle with a good volume breaking the Neckline of the Pattern. This is a positive sign or a confirmation for an Up move. Stock price is taking support of a Neckline. If stock shows some up move and when it breaks the nearest swing high (red candle next to the breakout candle) we can take entry for Swing or Positional trade. So the Entry price is above 3090.95, we can take entry between 3095-3100. Formula to calculate the Target Price Target = (Height from head to neckline) + Neckline Height from head to neckline = 309.45 Neckline = 3018.95 Target = 309.45 + 3018.95 = 3328.4 So we get here Target 3328.4 and it is near to the all time high price that is 3330. You can consider stoploss close below the shoulders of the pattern as it can be the support line. Disclaimer : I am not Sebi registered or expert in stock market. This is my personal analysis for educational purpose. I am not responsible for any profit / loss.
NSE:DMARTLong
by AmeyKajarekar
DMART: inverted H&S at support levelDmart (Avenue Supermart) has formed an inverted H&S pattern (Bullish Pattern) on Daily Time frame. As the stock is supposed to announce result, good result can take it to 3300 levels again while a bad result can lead it to Support level 1 and then to support 2 (Buyer are active in this range) All levels are mentioned on the chart. Just wait for clear breakout / breakdown either side on at least hourly timeframe to take the position. DISC: For educational purposes only.
NSE:DMART
by trade_opportunities
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