DMART - VCP Pattern Breakout On Weekly ChartDMART - VCP Pattern Breakout On Weekly Chart
The stock has formed a Volatility Contraction Pattern (VCP), indicating a potential bullish move.
A breakout above the resistance level has occurred, signaling further upside potential.
Volume - A noticeable increase in volume supports the breakout, which is a positive sign for continuation of the upward trend.
Entry, Targets, and Stop-Loss:
Entry:
Ideal entry point is above ₹5,350, to confirm the breakout.
Targets:
First Target (T1): ₹5,900
Second Target (T2): ₹6,400
Third Target (T3): ₹8,500 (longer-term target based on the measured move from the breakout).
Stop-Loss:
Set stop-loss at ₹4,650, just below the breakout level to manage risk.
Summary:
Entry: Above ₹5,350.
Targets: ₹5,900, ₹6,400, ₹8,500.
Stop-Loss: ₹4,650.
Disclaimer: The stock information shared here is not a recommendation to buy, sell, or hold. It reflects my own analysis and is intended solely for educational purposes. Any actions you take based on this information are your responsibility, and the admin of this channel is not liable for any financial gains or losses. Please consult a financial advisor before making any investment decisions. I am not a SEBI-registered advisor.
