Company gave good profits in q3. With Dmart at crazy valuations, this could be the next retail stock chased by smart money.
Its had a breakout retest + broken out of a downward channel. Additionally now forming higher highs and higher lows.
This one seems to be one worth catching early before it catches fire over the next couple weeks.
Price Action shows strong breakout in V-Mart.
Buy on dips with SL around 1700 CB.
Disclaimer: Ideas for educational purpose, give thumbs up if you like.
VMART has definitively broken out of the triangle pattern but is it time to get into the trade? The resistance zone seems to be close whereas the support is way below. Risk reward?
Disclaimer: I am fairly new TA.
Vmart has clocked in a record volume of 1.72 million on a down day. This is a monthly chart and if you notice the arrow pointing to the volume is for the month of July 18. The difference between the high to close is almost 900 points which comes to around 30 % of the stock price. The stock has since struggled to make new highs. We may expect a 50/80 rule by "Mark...
It rose on GST news
Reasons for short:
1)Fibonacci Retracement
2)Red candles on Bollinger Bands top
3)Low volumes on Volume profile(This is not shown because I 'm not a pro user here)
Targets based on retracement:
T1) 1079
T2) 1039
T3) 1000
V-Mart Retail Ltd. engages in the retails of readymade garments and accessories in India. It offers fashion garments, toys, bags, footwear, homeware, and Kirana products. The company was founded on July 24, 2002 and is headquartered in Gurgaon, India.
VMART
