Avenue Supermarts Limited Stock Forecast

Avenue Supermarts Limited stock price ended at ₹4,794.70 on Friday, after gaining 0.0021%.
(Updated on May 10, 2024)

DMART.BO Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -0.415%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Avenue Supermarts Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹4,696.74 and ₹4,538.62. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Avenue Supermarts Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹4,493.85 and ₹4,480.60. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Avenue Supermarts Limited finds support just below today's level at ₹4,493.85. If this is broken, then the next support from accumulated volume will be at ₹4,480.60 and ₹4,419.00.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹110.90 (2.34%) between high and low. For the last week, the stock has had daily average volatility of 3.17%.

Our recommended stop-loss: ₹4,625.47 (-3.53%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (DMART.BO) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Avenue Supermarts Limited to open at ₹4,794.60, and during the day (based on 14 day Average True Range), to move between ₹4,662.46 and ₹4,926.94, which gives a possible trading interval of +/-₹132.24 (+/-2.76%) up or down from last closing price. If Avenue Supermarts Limited takes out the full calculated possible swing range there will be an estimated 5.52% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹4,795.75 (0.02%) than the support at ₹4,493.85 (6.27%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Avenue Supermarts Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Avenue Supermarts Limited stock to perform well in the short-term.

Current score: 2.038 Buy Candidate Unchanged

Predicted Opening Price for Avenue Supermarts Limited of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.