DMART: How to combine simple price action strategies with indicatorsJun 15, 2021
Using indicators along with price action techniques gives better confirmation and increases the accuracy of analysis. We have shown here how we analyzed DMART stock using price action and indicators.
We published the following article on DMART pre market on 15th June in the Financial Waves Equity report which our subscribers receive pre market every day.
DMART 60 mins chart as of 14th June 2021:
Anticipated Wave analysis:
DMART has been moving higher recently and intact in strong uptrend. In the previous session it closed with a gain of 3.10%.
On the hourly chart, we have applied parabolic SAR which used to determine the price direction as well as draw attention to when the price direction is changing. A series of dots placed below the price which is deemed to be a bullish signal. Closest support is placed at 3110.
In short, trend for DMART is bullish. Use any dips towards 3250-3220 as buying opportunity for a move towards 3330-3360 as long as 3110 holds on the downside.
Happened : After we published the report , Dmart opened with a minor gap up and rallied to make a high near 3394 levels exceeding the target range we mentioned within a day and the stock was up more than 3%.
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