🏪 Avenue Supermarts Ltd. (DMart) – Bearish Divergences Emerging Near Channel Support

🔹 Price Action CMP: ₹4,320.40 (+0.36%) The stock continues to move within a rising parallel channel, with price now testing the lower trendline support near ₹4,250–4,300. While structurally still in an uptrend, multiple bearish divergences across indicators suggest potential loss of momentum. 🔹 Technical Observations Pattern: Rising channel — price respecting upper and lower bounds since early 2024. Trend: Price remains within an upward channel, though slope is flattening. Volume: No major spike on recent declines, indicating controlled selling. RSI: Currently around 39, showing a bearish hidden divergence (higher lows in price, lower highs in RSI) — signaling weakening internal strength. OBV: Flatlining despite price gains, forming a bearish OBV divergence, hinting at reduced accumulation pressure. 🔹 Key Levels Immediate Resistance: ₹4,480. Major Resistance: ₹4,850. Immediate Support: ₹4,250. Major Support: ₹4,050. 🔹 Strength & Risk ✅ Price structure still intact within long-term ascending channel. ✅ Support zone near ₹4,250 may attract buyers for short-term bounces. ❌ Bearish OBV and RSI divergences highlight internal weakness. ❌ Sustained close below channel support may shift bias toward consolidation or correction. 🔹 Outlook DMart’s chart shows early signs of momentum fatigue, with divergences suggesting limited upside unless volume expansion and RSI recovery occur. Holding above ₹4,250 keeps the structure neutral-to-positive, but loss of this level could trigger a channel breakdown toward lower supports. 📢 Disclaimer: This is educational technical analysis, not investment advice. 🧑‍💼 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)