Technical Analysis Avenue Supermarts Ltd.

The stock is

chart for (DMART) shows a powerful shift in momentum. After a prolonged downtrend from its peak near 4800 to a bottom around 3600 the stock has started to reverse and is currently showing aggressive bullish strength. Massive breakout the most striking feature on the chart is the recent very large green candlestick. The stock has surged by over 6.7% in a single day currently trading around 4222. This sharp upward move breaks past several recent resistance zones signaling a strong potential trend reversal from bearish to bullish. Base formation before this breakout the stock spent a few months building a solid base or foundation between the 3600 and 3800 levels. This consolidation period showed that sellers were losing their strength and the stock was preparing for an upward move. Immediate support the previous resistance zone around 4000 to 4100 should now act as a strong immediate support level. If the stock price dips slightly due to profit booking it should ideally bounce back up from this area. Immediate resistance the next major hurdle (resistance) on the upside looks to be around the 4400 level. If it successfully crosses and sustains above that the stock could eventually aim for its previous major highs near 4800. The chart looks highly positive right now due to the high-volume breakout. It clearly suggests that buyers have taken control of the stock. Keeping an eye on the 4000-4100 zone will be crucial to see if the stock can sustain this new upward momentum. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.