Dmart, an opportunity for re bounce As per technical chart setup, and current price also on major support, hopefully an upside rally seen in upcoming sessions. add this script on your watch list.
Dmartbuy
Is the fall over in Avenue Supermarts Ltd (DMART)?Price is moving in a broadening wedge pattern which is also known as expanding diagonal.
All the sub waves are 3 wave structures which are usually found in ending diagonal in wave 5 of an impulse or wave C of a correction.
Currently price is in sub wave 4 of the primary wave 5 which is going to end somewhere near 3900 level.
Wave 5 should end near 7700 level which is also the technical target for the classical saucer pattern.
All the illustrations are self explanatory.
More than 90% gains potential from CMP in medium term.
What you see here in the chart is just the tip of an iceberg, all the hard work cannot be shown.
If you are getting benefitted from my hard work then showing gratitude won't cost you a dime.
It can definitely motivate me to publish more charts which will benefit you further.
Do your own due diligence before taking any action.
Peace!!
DMART--Head & Shoulders??Head and shoulders pattern is identified in this stock.
we have a chance of right shoulder formation. keep safe in this area.
price is now near to Right shoulder
on bottom we have a strong support lies at 3550 levels.
if price breaks the neckline we have a support lies at 3550.
multiple times price rejection to topside is observed from 3650 levels, but we have demand zone, it wants to test the demand zone.
keep in long side from support levels,
if neckline failed to push the price downside we have a continuation from this support levels, upside.
If Demand zone fails large sell off is going to observe in this stock.
DMART one more Upward Impulse Wave about to form.
According tenth Elliott Wave Theory Price forms a 5 Wave Sequence structure before the major Correction, here we see that we have Wave 1, 2, 3(strongest upmove), Wave 4(correction), are complete.
Currently Price has formed a Quarterly Demand which has its LegOut closed above the EMa which indicates a Strong Buying and Price hasn't violated any Supply which signifies there was a temporary correction which is over and now Price is ready to Shoot above the end point of Wave 3, hence Target derived is Rs. 6000.00
This is a Trade where the reward is amazing against the minimum risk defined.
Dmart - hold the position and will move once it crosses the 3950DMart > 3950.
Currently hold the position between 3300 to 3950
Avenue Supermarts (DMART) is at resistance levelWith reference to the attached chart, you can easily identify that DMART is at a resistance level and close below that line yesterday. Now it looks like DMART will again tank towards Rs 3300 level for Support level testing. You can also take advantage of it with the following levels:
Entry Below: Rs 3580
Target: Rs 3350
StopLoss: Rs 3670
Note: Please consult your Advisor or do your own analysis before taking any trade
DMART Swing Update#DMART #Avenue Supermarket
Symmetrical Triangle Pattern
Closed Price Rs.4028.15/-
Next Exit Rs. 4400/-
Support / Risk Below Rs. 3900/-
DMART - Waiting for its breakout🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
Avanue Dmart breaking out and taking support Dmart retracing from trendline
Making Morning star
candle stick pattern daily time frame
breaking out triangle
taking support RSI 40
taken daily time frame previous swing high support
