Analysis of AVENUE SUPERMARTS for Short Term Investment.-Daily Breakdown in Darvas Box
-Lockdown Fear negative of stock
-Sell Below 2770
-Target 2700/2600/2500/2400
-Stoploss 2895
DMART trade ideas
DMART - WEEKLYThe typical investor's stock is taking support at 32% retracement on the weekly and if you closely observe this is a higher low as per DOW theory and candles are showing some signs of support here.
One can go long with stop below the previous higher low i.e near 2600 or so on weekly charts.
This is not a momentum pick, it is a kind of investment pick for long-term guys.
Dmart double bottomTarget 3070
SL 2885
Thought this target seems low but double bottom
means end of down move in this uptrend stock.
DMART : Looking for long opportunity!DMART is looking for great buying opportunity & to make some decent amount of profit.
Short Dmart Short Dmart Stoploss 2935 target 2630
Study: Breadown from Trend Continuation Pattern (Flag Pattern)
AVENUE SUPERMARTS3228 RESISTANCE LEVEL.
2735 STOP LOSS based on SUPPORT LINE.
2800 STOP LOSS based on 200EMA LINE.
.
TECHNICALLY its BULLISH view because of trading above 200EMS on 4Hrs timeframe. Since 19th OCT 2020.
FUNDAMENTALLY not recommended for Long term holding because now P/E ratio is 193.30 below (24 P/E) safe. So it's a highly expensive stock for long-term investors.
DMART - RSI Positive Divergence - BreakoutDMART trend on daily chart stock has formed an RSI positive divergence and close to breakout, we can get bullish move can happen in 2-3 days.
Dmart Bearish ViewA bearish view can be seen on Dmart as it has broken the rising wedge pattern and had given break of a support region with good volumes can short in intraday. Next support can be seen at 2700 levels.
Avenue Supermarts - Feeling the pressureIt has moved below 50 EMA with volume. Next support is at 200 EMA. Also there is an RSI Divergence.
DMART Looks weak below 2900might take from support from here. Need to keep an eye on a closing basis
Dmart is at Trend LineTrendlines are easily recognizable lines that traders draw on charts to connect a series of prices together or show some data's best fit. The resulting line is then used to give the trader a good idea of the direction in which an investment's value might move.
Trendlines indicate the best fit of some data using a single line or curve.
A single trendline can be applied to a chart to give a clearer picture of the trend.
Trendlines can be applied to the highs and the lows to create a channel.
The time period being analyzed and the exact points used to create a trendline vary from trader to trader
Limitations of a Trendline
Trendlines have limitations shared by all charting tools in that they have to be readjusted as more price data comes in. A trendline will sometimes last for a long time, but eventually the price action will deviate enough that it needs to be updated. Moreover, traders often choose different data points to connect. For example, some traders will use the lowest lows, while others may only use the lowest closing prices for a period. Last, trendlines applied on smaller timeframes can be volume sensitive. A trendline formed on low volume may easily be broken as volume picks up throughout a session.
Ascending Triangle Pattern FormedD MART is On Verge Of Breakout, We Can See Some Upmove In Upcoming Time. Although Ascending Triangle is Bilateral Pattern it Can Give Breakout From Downside or From Upside, So we Need to Be Ready With our Target and Stoploss From Both Side. Also the Support is On 0.5 Fibonacci Retracement.
DmartDmart trend, also you can see on two occasions stock has formed similar pattern highlighted by black curves. Interesting movement indeed.
breakout of resistance , clearly go long position Dmart breakout of resistance with volume , after breakout retested , should be take long position here
My weekend picks 11/12/20My holding period- Greater than 2 weeks.
Style- Momentum investing.
Trade details mentioned in chart.
DMart Resistance Breakout ViewDMart:
Looks good for Resistance Breakout
Long above 3185 with a SL 3155
Example of an Analysis Failure and learning to trade with itOm Namah Shivay
Brothers,
After 27th Nov 2020, we set the target of next up movement to 2750 odd. And we are actually out
when price moved below 2600. If we analyze the structure, the correction followed and the impulse
still continued. We were in a failure.
Failure of doing a target too early. Trailing stoploss to swing lows brings us to safer exit. But the
failure needs to be re evaluated. We should have been progressive and kept a progressive thinking.
We could re-analyzed and keep our new analysis uptodate so that we are ready to re-enter if
possible.
Om Namah Shivay
