DMART trade ideas
Presently consolidating in short termSupport at 1340, resistance at 1588, intermediate term target will be 1750
DMART : SQUARE OFF POSITIONS FOR SHORT TERM STOCK WAS CONSOLIDATING AND HAS GIVEN CLOSE BELOW LAST WEEKS CLOSE. TARGET FOR THE STOCK IS 1343 IN 10 TO 12 TRADING SESSIONS.
It crosses this chart higher level then it LONGI 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.
Stop Loss
1- 5 Days EMA 1490
2- 9 Days EMA 1484
Short DMART with SL 1516.8 Sell Dmart with SL of 1516.8 and target of 1487/1475.
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Near the strong supportVery strong support at 1315, if the stock remains bullish and able to cross minor resistance on the way, a target of 2100 can be had for the intermediate term
DmartEveryone's favorite , last time this corrected upto 50% retracement. now fallen off a double top, i think it will correct more. huge gap to be filled , lets see if it takes this in style.
NSE: DMART Below 1364 might touch 1157 in short termNSE: DMART Below 1364 might touch 1157 in short term
Since December 19 to January 11 stock was trading between 1696 to 1501
After performance numbers declared during weekend, today's sell off with huge volume shows more downside
The weakness in chart might built up further and can push price lower to 1157 level in coming days
Going forward 1489 will act as strong resistance level and stop loss for Short positions
Below 1364 stock can touch levels 1287, 1232 & 1157
Today's sell off with volume might be a worry in short term.
May rebound tomorrow. Intermediate support is at 1318, strong support is at 1290. If bullishness returns and the stock rebounds, resistance will be crossed tomorrow.
