The chart is self-explanatory as always :)
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v mart is at buying range in monthly time frame
with 1st immediate target of 2460
can also move forward to 3000 & 3800 levels in coming months
disclaimer :
i am not a sebi registered analyst
this is just for educational purpose
invest wisely as per your risk capacity
V-Mart Retail Ltd. engages in the retails of readymade garments and accessories in India.
After making lifetime high of 4848 in Nov 2021, it was in downtrend since then. Now, after 2 years, it has changed its daily and weekly structure from in demand zone and shown potential for upside movement. Also, it has taken support of long-term trendline.
On daily chart,...
Stock has been in negative trend for very long time. Nearing to Pre covid level Support levels.
If broken can see further selling. If taken support at ranges....stock will try to retest trend line channel resistance. If broken might see some furious move.
History repeating itself
T1(Trendline 10) acts as an effective support line for Vmart
Price has touched T1
RSI Convergence Divergence has been formed lately in Daily Chart
Check my daily chart analysis posted on VMART Minds
VMART - currently we are seeing momentum is in play and stock do short term consolidation before 3rd breakout.
if it breaks 3200, we can see long term breakout.
current target of momentum is 3200 and we will visit once it breaks 3200 . momentum trade SL is 2775
