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Dmart Technical Analysis suggests that the stock is trading above its intrinsic value. It is currently trading at 122 times trailing earnings compared to 70-80 times of its peers like HUL & Nestle. The reason for this high premium is its earnings growth of 52% compared to less than 20% of its peers.
Avenue Supermarts Ltd or Dmart formed a flag pattern on the daily chart. The Flag pattern is a continuation pattern. Dmart gave a breakout from the flag pattern and delivered around 30% returns in the last one month. The key support levels of this stock are around Rs 2000 and Rs 1700.
On a divergence trading setup, the price and indicator both are forming higher highs thus indicating that the positive momentum will continue in the stock. The price-volume analysis on a chart suggests that the stock is a bullish trend supported by the volume. However, a closer look at the volume related data points suggest that some big players have booked a profit in the stock.
Avenue Supermarts Ltd or Dmart does not correlate with the nifty movement. Since this stock is not a part of the derivatives segment. Therefore, option chain or future analysis of the stock is not feasible.
Avenue Supermarts Ltd or Dmart stock is a part of the Nifty Consumption Index. It is best performing stock in this index on both higher and shorter time frame i.e. one year and one-month time frame respectively.
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