Krishna Janmashtami Day Pick 2025 by Choice Broking Ltd
Buy DMART @ 4355 & Upto 4300 for the Target of 4750/5000
On the daily chart, after a decline of nearly 39%, the stock has entered a wide-range consolidation phase. Recently, DMART has witnessed a strong bounce from lower levels and is now trading within a defined range while forming a Symmetrical Triangle pattern.
The stock has recently taken support from its short-term and medium-term EMAs and is currently trading comfortably above all its key moving averages, suggesting underlying strength. If the stock manages to sustain above the Rs.4,450 level, it could confirm a breakout and move higher towards the next targets of Rs.4,750, followed by the Rs.5,000 mark in the medium to long term.
The RSI is placed at 62.92, trending upwards, indicating improving momentum in the current move.
Based on this technical structure, we recommend initiating a buy position in the stock at the current market price of Rs.4,355 and adding on dips towards Rs.4,300. On the downside, Rs.4,100 would act as a strong support zone, and a breach of this level could temporarily challenge the positive structure, warranting a cautious approach.
For Detailed Report With Disclaimer Visit. https://choicebroking.in/disclaimer
SEBI Registration no.: INZ 000160131
