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.
Thanks for reading and let us know if you have any questions!