#Dmart cash -Positional call
11.06.2023
Looks good buy around 3580-3600
SL At 3540
Target 3740/3840
(Close above 3850 will be Strong breakout)
Cmp 3632
Stock has bottomed at its crucial support and looks to gear up for a bull run atleast upto it's declining Trendline of the triangle pattern where it can face strong resistance. If its able to break the point then Breakout is on fire :)
Strong support: 3336.5
Tgt 1: 3873
Tgt 2: 4374
Tgt 3: 4878
Analysis Criteria Used:
1. Please find the Chart Analysis done for the Intraday Trade Idea levels for 24th May, 2023
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your...
You still think Technical Dont work, I posted weekly chart earlier for DMART and later it was slightly adjusted. now we have touched bottom edge and bounced
Dmart Showing Sideways Movement Till It Breaks 3720 Mark Once It Closes Above Tht It May Run Near To 4200 For My 1st Target And 4650 For My 2nd Target, Sl Will Be 3190 Do Your Analysis Before Taking Any Trade. Happy Trading
DMART is trading in a previous accumulation zone, a breakout on top side may start a rally towards 3580 levels.
It is trading close to its 52week low levels.
Stop loss can be considered as 3270 level on daily closing basis.
Please do your own study before entering any position.
NSE:DMART
Avenue Supermarket, better known as Dmart, is a household name in India and one of the largest retail store chains in the country. With the biggest land area in terms of retail store chains, Dmart has become a go-to destination for consumers across India. In this blog, we will analyse Dmart's stock and make a case for going long in the company.
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NSE:DMART is a very good fundamental company with strong management.
on daily time frame after a sharp fall, Smart has made 2 reversal patterns one is bull slush and second is morning star respectively.
one can bought this stock for short term target of 4218 and mid term target of 4602
DISCLOSURE : I have this company in my portfolio
In the Weekly chart of DMART ,
We can see that, either it will shown and upward momentum by breaking 3600 in W Pattern
or
Trend can change from 3200-3250 levels.
Lets see at what levels it forming a price action for upward trend.
If you enter in DMART, hold and go long for 4500-4600 levels.
Had recently shared a short on this stock...but with the Adani crisis where a high PE stock has collapsed this one could go along with it too..
The freefloat here too wasn't the highest and post a correction of close to 30% the stock is in peak downward momentum yet still trades at a 96PE.
With a negative result which gave a gapdown expect a further fall here...
Chart is self explanatory. Levels of breakdown, possible down-moves (where stock may find support) and resistances (close above which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor...
Its a stock not available to easily short but if you can intraday short tomm it could make for an interesting short.
Short below 3645 with SL above 3665.
There is a gapdown on result and breakdown which leads to interesting intraday opportunities in a weak market.
ps: Such trades have to be closed intraday..
Price broke the trendline in June 2022 but next month closed above it. Thus the power of the trend line got weak. Hence in Nov 2022 it broke down again and since then it is trading below it. In summary it is important for all the investors of DMART to analyse your positions.
