DMART - VCP Pattern Breakout On Weekly Chart

DMART - VCP Pattern Breakout On Weekly Chart
The stock has formed a Volatility Contraction Pattern (VCP), indicating a potential bullish move.
A breakout above the resistance level has occurred, signaling further upside potential.

Volume - A noticeable increase in volume supports the breakout, which is a positive sign for continuation of the upward trend.

Entry, Targets, and Stop-Loss:
Entry:
Ideal entry point is above ₹5,350, to confirm the breakout.

Targets:
First Target (T1): ₹5,900
Second Target (T2): ₹6,400
Third Target (T3): ₹8,500 (longer-term target based on the measured move from the breakout).

Stop-Loss:
Set stop-loss at ₹4,650, just below the breakout level to manage risk.

Summary:
Entry: Above ₹5,350.
Targets: ₹5,900, ₹6,400, ₹8,500.
Stop-Loss: ₹4,650.

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