Let's see if it breaks the channel and comes back inside giving a short term correction
Buy above resistance MACD on daily turned positive
Impressive Volumes Inverted H&S kind of pattern
This is for self, to have a view of different levels and can we sell calls to make some money in this sideways stock
Decent Volumes DMI confirmation Wide Range Candle Sector support Good level of consolidation I really like the setup
Dmart has a history of making double bottoms on weekly charts. The current situation looks similar and I hope this should turn from here. According to the DOW theory, the latest higher low comes to 2600 approx which is not yet broken so the Trend is up.
Good Volumes on the breakout Fewer volumes during the retracement Hammer at the breakout area suggests people have bought near the retest\
Looks Amazing, the stop again can be taken as the low or median of the weekly candle
The 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.
Trendline Breakout, volume is not great but I like this stock due to the larger trend being up
What a breakout candle, with huge volumes. If we want to go long, then keep the candle's low as the stop and if it looks deep keep the candle's median as the stop loss and go long. One can add on dips also
Weekly chart looks Amazing Huge volumes, broke out again