DMART
Stock -> Dmart
TimeFrame -> Weekly
Hello all!
Dmart has been consolidating in a flag structure since October 2021, thus forming a flag and pole pattern. It finally broke out of it with good volumes last week. This makes for a good opportunity to go long.
There are multiple reasons which strengthen my conviction on going long:
1) The stock has bounced back from 3200 levels which is a good support.
2) The weekly closing is above 50 EMA.
3) The breakout has happened with good volumes.
Risk-averse traders can wait for the stock to sustain above 4000 on a daily timeFrame for going long, although accumulation in small quantities can be done.
*NOT A CALL*