DMART trade ideas
DMART is open for shopping-BUYJULY 07
-bullish crossover about to happen in MACD, RSI -gaining strength.
-sustaining above 50 ema.
-entered the trend channel again with increasing volumes.
TARGET 1 --2480
TARGET 2 --2600
STOP LOSS -- 2270
**These are my personal observations. Please trade at your own risk.**
Shorting opportunity - DMART testing its major support levelDMART has been testing its long time support level on the daily chart for quite some time now. A good momentum on the downside can lead to a major downfall. A strong bearish candle should be looked for in the coming days.
If the price closes above 2365, this study will stand invalid.
D-MART STRUCTURE BASED SELL OPPORTUNITYD-MART STOCK HAS MANAGED TO TRADE NEAR IT'S ALL TIME HIGH ON 13-FEBRUARY, 2020 DESPITE COLLAPSE OF 30% IN THE MONTH OF MARCH-2020.
STOCK HAS FORMED AND COMPLETED BEARISH BAT FORMATION AT PREVIOUS STRUCTURE HIGH RANGE (INR 2500 TO INR 2560).
COMBINING ANALYSIS OF STRUCTURE RESISTANCE AT HIGHER RANGE WITH BEARISH BAT FORMATION, TRADERS CAN LOOK TO SELL STOCK AS PER BELOW NUMBERS.
SELL ENTRY: INR 2480 TO 2520
STOP LOSS: INR 2562
TARGET-1: INR 2391
TARGET-2: INR 2310
Avenue Supermarts (DMART) BreakoutThe stock is showing great relative strength and breaking out to new all-time highs as the broader market digests its recent gains. Our upside objective near 2,015 was met in November, the stock consolidated through time, and is now resuming its long-term uptrend. As long as prices are above 2,015, then the bias is higher towards 2,565 over the next 1-3 months.
