DMART trade ideas
Avenue supermarkets possible breakoutStock is braking out of triangle pattern which was formed since Nov, 21. Stock trading above 20-50-100-200 DMA. A major resistance @ 4200. If stock sustains above 4200. We could see higher levels of 4625 and 5150.
Please note this post is for educational purpose only.
DMART - Triangle pattern- 60% upside potentialDMART has formed a triangle pattern and has been in broad range consolidation for few months now. It has given good closing today around 3912.
This closing looks very good for upside, further daily candle close above 3950 level will confirm the upside momentum and breakout of triangle pattern and the trendline resistance.
Targets:4100+, 4600+, 5600+ and 6200+
SL: Daily candle close below 3800.
DMART Expected to Bounce from 50 DMAAfter a short term downtrend which was on back of little to no volume, DMART has shown some strength from lower levels and is ready for a bounce till previous swing. The overall market is also oversold and needs to stabilize a bit before moving again. DMART has formed a good candle with long tail and strong volume to back it up. The same thing happend after 3rd Oct candle too.
Stop Loss: SL should be below 3,600
Entry: Entries can be made at the open right away
Target: 3,900+
DMART - Grab this opportunity to invest for long termNSE:DMART
cmp is 3960
grab the opportunity in this stock
heading towards all time high & beyond
This analysis is being done for educational and knowledge-sharing purposes.
This article does not offer any kind of buy or sell advice.
All stocks are positional and are held for a short to medium period of time.
Everyone is expected to conduct their own research and analysis to determine whether my point of view aligns with yours.