Avenue Supermart - DmartBuy at currrent levels. After an impulse move , current level finds support from a minor resistance line(in green). Also fibonacci confirms the range. In my opinion, pull back has completed and there will be another impulse move to higher levels. Also it finds support at short term exponential moving avg.
Buy at current levels . Target 1 : 2080 with moving stop loss at 1885 and then 1995
Target 2: 2184 with stop loss at 1995 and then 2080
DMART trade ideas
Avenue Supermarkets - study - Buy on dips upto 1784Avenue supermarkets near resistance zone of 1915, close above 1916 will open for more upside. Targets Open.
The stock has bounced from its low of previous gap up bottom(low) of 1784 and bounced upto 1900 with good volumes on 17th Dec. The stock has turned bullish. Keep an eye on #Dmart above 1915 Targets open. Stoploss : 1700
Dmart bulls will push price higherBuy At 1520-1510 Stoploss 1450 Target 1675
Reasons for trade- 1.Dmart has broken channel on daily chart
2.Channel break and retest of support at 1460 is done
3.Price has to complete rounding bottom on weekly chart
4. Festivals are coming near so consumer consumption will increase and so profits.
5.Risk Reward 1:2