Fresh Breakout In Avenue Supermarts

JC Parets
January 31, 2020

This post is a quick update on a name in the Consumer Goods' space that we've been watching for a breakout, as well as two other names worth putting on your radar.

Here's Avenue Supermarts breaking out above 2,020 to new all-time highs. As long as prices are above that level we want to be aggressively long with a target up near 2,570.

Click on chart to enlarge view.

Asian Paints has yet to break out, but is setting up to. A move above 1,850 would confirm this breakout and get us long with a 2,440 target.

Dabur India Ltd. is another name to watch, but for the wrong reasons. Prices failed to hold above resistance near 490, confirming a failed move and suggesting a retest of support near 450 may be coming.

We've been waiting for a breakout in Avenue Supermarts for weeks given its relative strength and it's finally here.

We're buyers.

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Allstarcharts Team

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