DMart breaks weekly triangle support; ₹3,150 is key

Avenue Supermarts closed near ₹3,158 on the weekly chart after a sharp breakdown from its multi-month triangle pattern. The stock had been trading between a falling resistance line and a rising support line, but the latest move has pushed price below the lower boundary. This shifts the structure from consolidation to bearish breakdown.

Ichimoku setup also remains weak. Price is below the conversion line near ₹3,531, the base line around ₹3,871, and the cloud zone. The cloud is now acting as overhead resistance rather than support, indicating that the broader trend has weakened. ₹3,150 is the immediate support zone because the current weekly candle is testing this area. A sustained break below it can expose ₹3,000 and then the ₹2,800–₹2,900 zone. The decline is strong, so price needs to stabilise before a meaningful recovery can develop. For buyers, ₹3,530 is the first technical hurdle. A recovery above this level would indicate that the immediate selling pressure is reducing. However, the major reversal level remains near ₹3,870, where the base line and cloud resistance meet. DMart’s long-term retail business story may remain relevant, but the chart currently demands caution. The next weekly close around ₹3,150 will decide whether the stock builds a base or extends the breakdown.