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
Trade ideas
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.