DMART - Is 20% upside from current levels probable?
Hi Traders,
This morning my screener filtered 'DMart' among few other stocks. When I looked at it on the weekly charts I found some key info that might be pointing that this stock will likely be heading up.
10 Weeks Volume Analysis
Observation
Usually when a stock's data shows such information most of which is positive, then it is very likely to be heading up. My set up shows it can attempt 5600 level which would be 20% from current level.
While I am documenting this information for my own personal reference and study, I am indeed taking a position in this stock based on the above reasoning.
TradingView strongly recommends that you do your own research when it comes to investing. That is my advice too because you and you alone are responsible for your actions in the Market and in life.
I would be happy to hear any views on this stock or any other and you can feel free to reach me.
All the best
PriceCatch
This morning my screener filtered 'DMart' among few other stocks. When I looked at it on the weekly charts I found some key info that might be pointing that this stock will likely be heading up.
10 Weeks Volume Analysis
- Up volume is over 6 times down volume (more buying than selling)
- 8 weeks closing Green and only 2 weeks closing Red
- Buying Trades Value Rs.9000Cr. Selling Trades Value under Rs.1500Cr. (Less investors are selling at current prices.)
- PA operating above 3 months range.
Observation
Usually when a stock's data shows such information most of which is positive, then it is very likely to be heading up. My set up shows it can attempt 5600 level which would be 20% from current level.
While I am documenting this information for my own personal reference and study, I am indeed taking a position in this stock based on the above reasoning.
TradingView strongly recommends that you do your own research when it comes to investing. That is my advice too because you and you alone are responsible for your actions in the Market and in life.
I would be happy to hear any views on this stock or any other and you can feel free to reach me.
All the best
PriceCatch
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