DOUBLE BOTTOM FORM IN DMART Double bottom formation complete in Dmart stock is trading near to 200 sma RSI also in bullish zone
DMART trade ideas
Swing Trade Idea #231 : Long on DMART This is a public swing trade idea 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 it 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.
Is DMART retracing towards its support line?It showed a great breakout from the indicated trendline. Is it retracing all the way back to the same trendline?
Keep this on radar to re-enter for long term view.
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DMART: BUY/SELL algo DemonstrationHOW TO FOLLOW ALGO SIGNAL:
Deciding buy/sell
1.Strictly use only on 1 hour time frame.
2.Wait for a ‘X’ sign before mind make up. A red ‘X’ means look for selling opportunity , a green ‘X’ means look for buying opportunity.
Taking a position:
3.Wait for an arrow before entering into any position. A red arrow on upside of a bar pointing downward means open short position. A green arrow below the bar pointing upward means open buy position.
4.NOTE: Only after the the signalling of X , look for arrow. Do not buy/sell if you see any arrow before the signal of X.
5.STOP LOSS should be the most recent swing high/low or most recent STRONG CANDLE’S high/low.
While maintaining the position :
6.The small triangles after the each bar completion tells you to hold the position. The red triangles appearing upside on the bar tells you to hold the short position, whereas the green triangles appearing below the bars tells you to hold the long position.
Exiting the position:
7.After you create a buy position , if you see a green arrow above any bar pointing downward, then you should either book partially/leave the position for sometime. You will get another signal to re-enter.
8.Similarly, after you create a sell position , if you see a red arrow below any bar pointing upward, then you should either book partially/leave the position for sometime. You will get another signal to re-enter.
9.While being in position if you see any X signal which is opposite of your trade , then leave your position immediately.
10.When you see a big red circle dot then you must exit all your short positions. Contrary , when you see a big green circle dot , you must exit all your long positions. And then wait for a X-signal.
No Trading Zone:
11.When you get frequent X-signals in green-red-green-red & that too very close, then its means that stock is going to form a range. One should wait for the range break & move away to another stock. (THIS IS WHERE YOU WILL REQUIRE A PRACTICE TO IDENTIFY THE RANGE)
DMART Positional -W Pattern Breakout & Pullback to Breakout zonePrice has given a W pattern breakout and pullback to breakout/Support zone & 9 Week EMA, can be added at cmp and dips upto 2550 for target arnd 3000, view gets negated below 2450 on weekly closing basis.
On daily time frame price can give a trendline breakout above 2716 levels for initial target 2750.
VIEWS FOR LEARNING PURPOSE ONLY
DMART_In ZoneIf breaches 2400, then 2800+ level is possible (if not, moving in zone)
near support at 2200
strong support at 2000
Only educational purpose
DMART ANALYSIS 28.12.2020BUY 2673 TO 2580
ONCE IF IT CLOSE ABOVE 2690 WITH STRONG BULL CANDLE MEANS TARGET UPTO 2873 AND 2946
REASON FOR BUYING:
IN WEELY AFTER THE SIEDAY WAYS IT HAS BREAK THE RESISTANCE LINE IT SHOWS POSTIVE TREAND AND IT HAS ALSO RETESTED.
IN WEEKLY TARGET UP TO 3269 .
Positional Short CandidateD mart is a positional short candidate but unfortunately its not in F&O .Could wait for new entry.
Levels are on chart
Dmart making newer ATH levels Dmart took a beautiful support at the previously broken strong resistance level and continued its up move. Further move is expected. Visit previous chart in the link below. For educational purpose.
Watchlist Update: Dmart ascending triangle probable breakout.-Look out for Volume when breaking out!
-There are two separate possibilities of trade represented by two arrows after breakout at 2700.
-Target is set through ATR.
-Risk Reward is 3.078
-Happy Trading :)
Strongest stock - DMART (Rejection day)Buy At 2588-2600 range for an excellent entry.
SL - Exit if stock close below 2580, since it will definetely test the low's of the rejection candle.
Reason for the trade: Rejection day
Rejection Days have a range that is significantly larger than the 10-day average and The ideal swing entry is the Rejection Day midpoint,which can be defended for 1-4 days after the rejection.
Exit when : A daily close below the Rejection Day midpoint breaks the pattern, as this would indicate a retest of the Rejection Day low
Disclaimer : Author may enter in trade so take your own decision. This is an trading idea not an trading or Investment advice.
