DMART trade ideas
SELL DMART AROUND 3350 TGT 3100/2850 SL ABOVE 3450It has made a doji on the top of the chart with declining volumes along with divergence shown on RSI. On the fundamentals part, Revenue, operating profit and net profit has seen a sharp decline along with eps . Also the Price to book value ratio is too high @17.81.
DMART ::: BULLISHL O N G T E R M T R A D E
SIP TRADE
DATE: 20 MAY 2021
INSTRUMENT: DMART
TREND: BUY
TIME FRAME: DAY
CMP: 3027
BUY ABOVE: 3035
STOP LOSS: 3010
TGT 01: 3099
TGT 02: 3135
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A Strong Support and Consolidation D-Mart had touched 3000 Points Last month but then it had fall of around 250-300 Points
Trend is A good sign so No worries if you start accumulating D-Mart
One of the Main Reason Behind this Fall is The increasing number of Covid Patients in India
But as it has shown a Good Support, you can Accumulate it with Stoploss
I'd Suggest the Target of 3000 Again ( Not for Intraday)