Bullish Bat pattern on 4H Chart of DMART. BUY 1290-1292, SL 1283.8, Target(s) - 1299.9, 1303.
Bearish Butterfly pattern on 4H Chart of DMART. SELL 1401-1402, SL 1409.1, Target(s) - 1394, 1391.
I started learning Harmonics some days ago and just observing currently, how the price action works here and thereby trying to refine on my Target(s), SL and entry levels.
AN INVERSE H&S SHOULDER ALONG WITH A BUY SIGNAL IS SEEN.
VOLUMES ARE HIGH WHEN THE PRICE IS INCREASING AND LOW WHEN THE PRICE HAD FALLEN DURING THE LAST FEW DAYS.
MONEY FLOW HAD STEADILY INCREASED INTO THE SYSTEM.
COMBINED ALL OF THIS, A BREAK OUT ABOVE THE NECK LINE SHOULD SEE THE TARGETS OF 1380 (MAJOR RESISTANCE) AND 1450.
AT NECK LINE, THERE IS A GRAVE...
DMART has a good support at existing levels. Currently also in oversold region as indicated by RSI. The volumes for downtrend is also not so high.
If it breaks then it could go down to the lowest band of fibonacci.
DMART (Weekly) | Bullish Gartley (in the making)
CMP: 1358.5 (Red dotted line)
PRZ: 1240 - 1260 (Black lines)
SL: 1225 (Red line)
T1: 1350 | T2: 1420 | T3: 1500
This is purely a positional view as it is in Weekly time frame!
I am feeling that this has been trading within a line for some time if it crosses this higher level then it will be a great opportunity to make money for us.
1- 5 Days EMA 1490
2- 9 Days EMA 1484