{"id":12312,"date":"2023-03-29T11:49:54","date_gmt":"2023-03-29T06:19:54","guid":{"rendered":"https:\/\/www.tickertape.in\/blog\/?p=12312"},"modified":"2023-03-29T11:49:57","modified_gmt":"2023-03-29T06:19:57","slug":"avenue-supermarts-is-dmart-providing-shopping-opportunities-for-portfolios","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/blog\/avenue-supermarts-is-dmart-providing-shopping-opportunities-for-portfolios\/","title":{"rendered":"Avenue Supermarts: Is Dmart Providing Shopping Opportunities for Portfolios?"},"content":{"rendered":"\n<p>With one more week of lackluster behavior in the market, indices remained subdued, and counters remained under pressure. Though selected side counters showed good strength, more or less, the struggle for revival continued. But as I repeatedly say, many counters are offering wonderful buying opportunities as they are available near major supports and down by 40-50% from the highs. One can eye on such counters to get the best bargain buying opportunity. One such counter is                   <a href=\"https:\/\/www.tickertape.in\/stocks\/avenue-supermarts-AVEU?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.tickertape.in\/stocks\/avenue-supermarts-AVEU?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" rel=\"noreferrer noopener\">Avenue Supermarts Ltd (Dmart)<\/a>. Let\u2019s dive deep into different charts and understand the formations.<\/p>\n\n\n\n<iframe loading=\"lazy\" title=\"smallcase embed\" id=\"iframe-1uLbMshB\" data-cardsize=\"big\" style=\"display: flex;width: 500px !important;min-height: 300px !important;min-width: 500px !important;padding: 0;border: 1px solid #dde0e4;border-radius: 4px;box-shadow: rgba(0, 0, 0, 0.1) 0px 2px 12px 0px;background: url(https:\/\/www.gateway-tt.in\/assets\/tickertape-loader.svg) no-repeat center center;background-size: 72px\" src=\"https:\/\/www.gateway-tt.in\/trade?id=iframe-1uLbMshB&#038;orderConfig=%5B%7B%22quantity%22%3A10%2C%22ticker%22%3A%22DMART%22%7D%5D&#038;cardsize=big&#038;withSearch=true&#038;withTT=true\" onload=\"(function() { if (window.scEmbedController) return; var s = document.createElement(\"script\"); s.setAttribute(\"src\", \"https:\/\/www.gateway-tt.in\/assets\/embed.js\"); document.body.appendChild(s); })()\" width=\"500\" height=\"300\" > Loading widget for DMART <\/iframe>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tickertape.in\/blog\/avenue-supermarts-is-dmart-providing-shopping-opportunities-for-portfolios\/#Weekly-Price-action\" title=\"Weekly: Price action\">Weekly: Price action<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tickertape.in\/blog\/avenue-supermarts-is-dmart-providing-shopping-opportunities-for-portfolios\/#Weekly-Support-and-price-correction\" title=\"Weekly: Support and price correction\">Weekly: Support and price correction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tickertape.in\/blog\/avenue-supermarts-is-dmart-providing-shopping-opportunities-for-portfolios\/#Weekly-Fibonacci-level\" title=\"Weekly: Fibonacci level\">Weekly: Fibonacci level<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.tickertape.in\/blog\/avenue-supermarts-is-dmart-providing-shopping-opportunities-for-portfolios\/#Weekly-RSI\" title=\"Weekly: RSI\">Weekly: RSI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.tickertape.in\/blog\/avenue-supermarts-is-dmart-providing-shopping-opportunities-for-portfolios\/#Weekly-MACD\" title=\"Weekly: MACD\">Weekly: MACD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.tickertape.in\/blog\/avenue-supermarts-is-dmart-providing-shopping-opportunities-for-portfolios\/#Weekly-Ichimoku\" title=\"Weekly: Ichimoku\">Weekly: Ichimoku<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.tickertape.in\/blog\/avenue-supermarts-is-dmart-providing-shopping-opportunities-for-portfolios\/#Weekly-ROC\" title=\"Weekly: ROC\">Weekly: ROC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.tickertape.in\/blog\/avenue-supermarts-is-dmart-providing-shopping-opportunities-for-portfolios\/#Ratio-chart-Nifty-and-Dmart\" title=\"Ratio chart: Nifty and Dmart\">Ratio chart: Nifty and Dmart<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.tickertape.in\/blog\/avenue-supermarts-is-dmart-providing-shopping-opportunities-for-portfolios\/#Putting-it-all-together\" title=\"Putting it all together\">Putting it all together<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-Price-action\"><\/span><strong>Weekly: Price action<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh6.googleusercontent.com\/tPqtS2DVYSNP_gy1p5rbDy4oawkQhx9yk_0FBPjd2edMCWsLILLHq4OYw4wQLgH1LXSOJsOq3rnMqU8nygKWraBcrL_q7TAwUlB37aTegryMuzAk2bKzUL7pAbB-xdrWq9jkbT0c3Y5z9t_JCxjiQA\" width=\"643\" height=\"303\"><\/p>\n\n\n\n<p>Since listing, the trend of the counter was clearly bullish. It hit an all-time high by the end of 2021. Since then, the counter has entered sideways consolidation and showing time correction. Channels are placed on the price to understand support\/resistance and direction. Presently price is just in sideways consolidation.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-Support-and-price-correction\"><\/span><strong>Weekly: Support and price correction<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh3.googleusercontent.com\/F4zlEfnr8r6lpDiH12cvYwcMIJfg9IVKuzFVo-WUivh5pX9Cgnylv3wk4HZSaIqFfh981edO7daD025OodxsHnGeYQ-lyEvLgOpJ1zkglvtCMO3uEVQiFLQm_F2dLMDl14Y8RoG2pOFo4xWa2aFmIQ\" width=\"643\" height=\"304\"><\/p>\n\n\n\n<p>A support zone is highlighted with yellow color, where the price took resistance earlier, broke out, and opted to take support multiple times. Presently price has hit the same zone again and bounced from the lows. From the peak, the counter is down about 45% and onto the support, which is why it is worth getting shortlisted as an investment bet.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-Fibonacci-level\"><\/span><strong>Weekly: Fibonacci level<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh3.googleusercontent.com\/Hg14tAokG2dLmMnX425mcbOSrYUeKbd7s0Snw-PXnnNv8OLfVmkm7MTJMOSr_QshhS68FEEuK6UVwSkqwGo5aeHEAIZy5eYfnkD82cMsFDsRYt_RyEmupbwY0OSi0WofM8u5R75vhwjyzd0Z77XoSQ\" width=\"643\" height=\"303\"><\/p>\n\n\n\n<p>It is the first major decline phase of the counter since its <a href=\"https:\/\/www.tickertape.in\/blog\/ipo-investment\/\">IPO<\/a>. The price is making almost equal bottom (so far), nearing the previous swing low, and if we check the retracement levels, that\u2019s just 50% of the entire previous swing. This is worth considering, especially when the counter is on multiple supports (as discussed).&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-RSI\"><\/span><strong>Weekly: RSI<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh6.googleusercontent.com\/C7jMsfuUMzd9oRJiyjH1h9iYokhJhcUNBZaFzeD_OEYXxDJ47V5PD0iHFoHwPiZo5lReSUOxO9Woqk7Bbr-0_16NAE6rDLxBtXdiiafxbYjSKLPi6Hzeca-20Hq_JsmJIGf-PZnr9Q5l7o4XesNDiA\" width=\"643\" height=\"303\"><\/p>\n\n\n\n<p>The price is near the previous low and showed resilience in going down further. The <a href=\"https:\/\/www.tickertape.in\/blog\/relative-strength-index\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram&amp;utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" data-type=\"URL\" data-id=\"https:\/\/www.tickertape.in\/blog\/relative-strength-index\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram&amp;utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">Relative Strength Indicator (RSI)<\/a> is making higher bottom compared to the previous low, which is confirming bullish divergence. Bullish divergence confirms the possibility of limited downside from hereon. RSI is creating divergence near the extremely oversold zone, which is an add-on for the counter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-MACD\"><\/span><strong>Weekly: MACD<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh3.googleusercontent.com\/zQ2yuS5z1NbKkYR6zZZDQIMCIDxZ75l1I--KStJV2IUeW2YMRMl88tvQAjt7nqlCQgAtXcfnwpjjHZuO8hyg_JKGBSQqzjUEIR_gZUx5u3ENe8Ux9vE5EobTTW9I14cXkwjGa5XiyZ_wwOLpJ3nDHQ\" width=\"643\" height=\"304\"><\/p>\n\n\n\n<p><a href=\"https:\/\/www.tickertape.in\/blog\/moving-average-convergence-divergence\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram&amp;utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" data-type=\"URL\" data-id=\"https:\/\/www.tickertape.in\/blog\/moving-average-convergence-divergence\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram&amp;utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">Moving Average Convergence Divergence (MACD)<\/a> is a lagging indicator. It confirms the trend after its emergence. Since IPO, <a href=\"https:\/\/www.tickertape.in\/blog\/moving-average-convergence-divergence\/\">MACD<\/a> has never been to extremely low levels when the counter was trending. During the sideways consolidation, MACD went to its lowest levels and reversed. Presently, MACD has again reached the same low levels, and the price is near to previous low. There is a bright possibility of bouncing from the present zone. Confirmation of the reversal can be captured based on MACD Crossover.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-Ichimoku\"><\/span><strong>Weekly: Ichimoku<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh4.googleusercontent.com\/hGfViJLWvG2OYaoB_ygsrPHcoOs-ogAV3r903_D6BvLTgJ8FXFENpK3bVJLL3riNWlzMeAOvdqbWG4FHKCjnhRDH4E3IuS8zBRHNERUNWN-wyyMLuoMB4Yz9EIx0hfqfRVikSFJg4jKnEBbaYms8iw\" width=\"643\" height=\"304\"><\/p>\n\n\n\n<p><a href=\"https:\/\/www.tickertape.in\/blog\/ichimoku-cloud\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram&amp;utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" data-type=\"URL\" data-id=\"https:\/\/www.tickertape.in\/blog\/ichimoku-cloud\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram&amp;utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">Ichimoku <\/a>is an equilibrium indicator and speaks about present as well as future formations. More on present terms, it is a lagging indicator that confirms the trend of the counter. An interesting observation to note is that the price is far away from the cloud, and Kijun Sen is turned more or less flat, which confirms the possibility of a price bounce from extreme lows.<\/p>\n\n\n\n<p>The first level to watch out for is 4000 as resistance. The future cloud is equally thin, and the negative strength on the counter seems less than before. As per the indicator, the possibility of dead cat bounce is very high on the counter (and that\u2019s right from the previous bottoms). All these observations on Ichimoku offer favorable risk-reward for positional traders as well as investors.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-ROC\"><\/span><strong>Weekly: ROC<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh4.googleusercontent.com\/sgV6RDoi2H9TIl4hebBXiqb9d-1nXXW6JRj-ZP1y5590jbfwQkd1MqHosGXYV1LgKhnmTYbm5iV74XK0ySWGVmZ19AT7T0IbbHDEHPoZcqJAWKJP0R1QU-uW89wGyuTsn1F84_ZPkxIPu17oZUaayw\" width=\"643\" height=\"303\"><\/p>\n\n\n\n<p>ROC stands for rate of change. This is a <a href=\"https:\/\/www.tickertape.in\/blog\/momentum-indicator\/\">momentum indicator<\/a> that helps to understand the relative behavior of the price with the past. Since listing, a typical behavior is noticed on the counter. Whenever ROC has reached extreme lows and held onto support (highlighted with a white color trendline), it has shown a decisive bounce. Presently ROC is bouncing right from the support. Worth noticing!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ratio-chart-Nifty-and-Dmart\"><\/span><strong>Ratio chart: Nifty and Dmart<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh3.googleusercontent.com\/fgluiJm7pUtdj5fvpi-PxRlgxWVsPuDo_YlyEPkW93jTq3i2ADuM0tO1GnmXjGHvDc5NV1kDzr0XXt3sS1OR5J2s6z_GL4cQfFsUWUlKiiVoG8Yg3RDVi-Otbe94thA8j4aC2IqxMkSOSYctQ5NRjQ\" width=\"643\" height=\"302\"><\/p>\n\n\n\n<p>On the weekly scale, let\u2019s look at the ratio chart of <a href=\"https:\/\/www.tickertape.in\/indices\/nifty-50-index-.NSEI?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.tickertape.in\/indices\/nifty-50-index-.NSEI?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" rel=\"noreferrer noopener\">Nifty<\/a> and Dmart. The ratio chart has been upward-sloping since Dmart&#8217;s IPO, which confirms the outperformance of Dmart over Nifty. Recently, this chart is in sideways consolidation. Presently, it has hit the support trendline, which has been respected well in the past. Also, the flat trendline (where the ratio chart has taken support in the recent past) is also coinciding with the same. This inflection point confirms a likely bounce (with limited possibility of downside) on the ratio chart and the outperformance of Dmart over Nifty.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Putting-it-all-together\"><\/span><strong>Putting it all together<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Looking at the monthly price trend, the support offered by the horizontal trendline along with 50% Fibonacci retracement, and bullish RSI divergence, I feel this is a good bargain buying opportunity for long-term investors and positional traders. The extremely low MACD, support over ROC, huge difference between the price and Kumo cloud on Ichimoku, and support over the ratio chart of Nifty and Dmart suggest the same. Momentum may pick up going forward.\u00a0<\/p>\n\n\n\n<p><br><strong><em>Statutory Disclosure:<\/em><\/strong><em> Kindly note that this update is only for educational purposes. It is safe to assume that my personal position, my fund\u2019s position, my client\u2019s position, and my relative\u2019s position may be open on the counter. Prefer to take the advice of your financial advisor before initiating any position.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Read Kunal Rambhia\u2019s views on Avenue Supermarts (Dmart) &#8211; if the counter presents a good bargain buying opportunity for long-term investors and positional traders.<\/p>\n","protected":false},"author":73,"featured_media":12315,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[1770],"tags":[],"acf":[],"modified_by":"Anshiya Tabassum","jetpack_featured_media_url":"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2023\/03\/27_28-Mar-2023-Avenue-Supermarts_-Shopping-opportunity-for-Portfolio-Guest-Kunal-Rambhia.png?wsr","_links":{"self":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/12312"}],"collection":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/users\/73"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/comments?post=12312"}],"version-history":[{"count":5,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/12312\/revisions"}],"predecessor-version":[{"id":12323,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/12312\/revisions\/12323"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media\/12315"}],"wp:attachment":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media?parent=12312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/categories?post=12312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/tags?post=12312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}