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Vishal Mega Mart Ltd.Vishal Mega Mart Ltd.Vishal Mega Mart Ltd.

Vishal Mega Mart Ltd.

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VMM trade ideas

little late but still good till 125 and then BOKey Observations: Current Price Action: The stock closed at ₹121.50 with a strong bullish candle, gaining +2.55% today. It broke above a horizontal resistance zone around ₹114.66, now turned support. The breakout candle is accompanied by increased volume, indicating strength and participation. Resistance Zone: The next immediate resistance is around ₹125.63, a previous swing high. If the price sustains above ₹121, it could attempt to retest or break ₹125.63. Support Zone: The breakout level of ₹114.66 now acts as strong support. Below that, minor support can be seen around ₹108. Trend: The stock was in a consolidation phase for a couple of months. Recent higher lows and today's breakout suggest bullish momentum building up. Volume: Volume spikes on breakout candles generally confirm institutional interest or high conviction among traders. What to Watch Next: Sustained move above ₹121 could lead to a rally toward ₹125.63 or higher. Failure to hold above ₹114.66 may invalidate the breakout, leading to a pullback. Watch for follow-through candles and volume confirmation in the coming sessions.
NSE:VMMLong
by sagarexpedition
1
VISHAL MAGA MART LTD S/R for 5/2/25Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. 20 EMA (Exponential Moving Average): Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:VMM
by zenthosh