DMart shares zoom 14% in 7 sessions; analysts see further upside. Check the latest target price
Avenue Supermarts
, the operator of
DMart
, have been on a sharp upward trajectory, climbing 13.8% over the last seven trading sessions to hit a high of Rs 4,725 on the BSE today.
The surge comes after the stock broke past crucial
resistance
levels, drawing strong interest from traders and investors who see
momentum
building further.
The
breakout
has not only lifted sentiment but also shifted focus to the next set of targets as the stock sustains above key thresholds.
With technical charts signaling strength and volumes supporting the uptrend, analysts are pointing to higher levels in the near term, while also outlining important
support
zones to watch.
Commenting on the technical setup, Jigar S Patel, Senior Manager – Technical Research Analyst at Anand Rathi Shares and Stock Brokers, noted: 'Recently, DMart witnessed a breakout above the crucial Rs 4,600 level, and the stock is currently sustaining above it, signaling strength in the ongoing trend. From a broader perspective, a weekly close above Rs 4,600 will be an important confirmation that could pave the way for a potential upside move toward Rs 4,800 in the near term.'
Patel further highlighted: 'On the downside, immediate support is placed around Rs 4,500, which also acts as a protective level for traders to manage risk. Resistance for the stock lies at Rs 4,800, making it the next target zone. Sustained price action above Rs 4,600 backed by volume will further strengthen bullish sentiment and attract momentum traders looking for a continuation move.'
Echoing the positive outlook, Ajit Mishra, SVP – Research, Religare Broking, said: 'DMart has shown strong momentum with an 11.8% rally in the past seven sessions and a convincing breakout above the key resistance zone near Rs 4,550–4,600, backed by rising volumes and sustained strength above short- and medium-term moving averages.'
Mishra added that the breakout marked a turning point: 'The breakout confirms the end of the prolonged consolidation phase, with immediate upside potential toward Rs 4,900–5,000 in the short term, while a sustained close above Rs 5,020 could open the gates for Rs 5,250 levels.' He underlined the importance of support levels, noting: 'On the downside, Rs 4,500 now acts as a strong support and stop-loss reference; as long as the stock holds above this zone, the bias remains firmly bullish with momentum favoring further upside.'
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