PL Technical Research: BUY DMART - TECHNICAL PICK

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

BUY DMART CMP: 3713.9 TRGT: 4200 SL: 3500 - TECHNICAL PICK - DMART has witnessed a short correction from 4137 levels and has consolidated taking support near 3600 levels indicating a higher bottom formation pattern in the daily chart. There is signs of improvement in the bias with the RSI also showing a trend reversal and signaling a buy to anticipate further upside movement in the coming days. We suggest to buy and accumulate this stock for an upside target of 4200 keeping the stop loss of 3500.