DMart’s Structural Reset: Retesting the Neckline or Reloading for a Move?

1️⃣ Structural Breakdown & Recovery Price earlier broke down from a long-term triangle and tested the green base zone (~₹3,350) twice. Strong bounce from this demand zone shows buyers still defending. Current price is now retesting neckline zones around ₹4,150–4,600 — a key inflection area. 2️⃣ Trendline Confluence Price is sandwiched between: Rising orange trendline (support) Long-term neckline/black resistance (~₹4,600) This compression could lead to a sharp directional breakout or rejection soon. 3️⃣ Support & Resistance Zones Major Support: ₹3,350–3,500 (green demand zone) Resistance: ₹4,600 and then ₹5,250+ Sustained move above ₹4,600 could shift trend bullish again. 4️⃣ Outlook Current structure looks like a “Make or Break” zone. Failing to cross ₹4,600 might trigger a retest of lower supports. But any breakout from here with volume could unlock multi-month upside. 📢 Disclaimer: For informational purposes only. Not a buy/sell recommendation. Positions may or may not be held. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully.