IGI Logo

Avenue Supermarts Ltd

BUY 27 OCT 3350 PUT Entry Range 54 – 59 Target 155 Stop Loss 25

Rationale

• On the daily chart, DMART witnessed strong selling pressure in the latest session, with a significant OI buildup. The stock price has also breached its recent consolidation zone, indicating a further correction in the near term.

• On the technical front, the stock is trading significantly below its 20-DEMA and 50-DEMA, highlighting sustained bearish momentum and persistent selling pressure.

• The RSI has slipped below the 30 mark, entering the oversold territory and reflecting weak momentum. However, a shortterm technical rebound cannot be ruled out amid elevated selling pressure.

• The MACD histogram continues to trade in a negative trajectory, reinforcing the prevailing bearish trend. Immediate support lies around the 3,200 zone, while 3,500 may act as an immediate resistance zone.

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ00017433