DMart - Avenue Supermarts

#2
I think the QIP success and the OFS success has rerated the price of this share. I thought it was expensive at 2100 and didn't add more to what I was holding and now it's at 2300 levels after hitting 2500.

And Mr. Damani sold his shares in the OFS after issuing fresh equity in the QIP which was a smart move.

Where it goes from here, is what we have to see now.
 

San Yad

Active member
#3
What price we should start accumulating this share? I feel that it would not break 2000 level very soon if market again nosedive. Should wait around 2000 level or can start accumulating at the current levels?
 
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Alchemist

Administrator
Staff member
#4
I feel the stock's valuations are stretched and you should wait for some more correction.

There is good support for the stock in the 2000-2020 range.

You can buy partially at that level.

The next major support will be the 200 day moving average which is around 1726 right now, but is rising fast.

According to news reports, Avenue Supermarts has been shifted to trade-to-trade segment (with effect from 4th March). I didn't find any such circular on NSE's website but the news must be true as the stock is sharply down today.
 
#5
I think now is a good price to buy. Somewhere like 2100- 2150 where the QIP pricing was done. I assume at those levels the institutions will want to buy more.
 

San Yad

Active member
#6
Today I looked at its graph and it shoot up already. So would not touch at this level. now we are in uptrend as after coronavirus world where people are hopping for the better.

As of now missed the bus.

Regards

San
 
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#8
I sold this at Rs 2200 and reentered with all the fear of missing out at Rs2400 :D

This is going to be a part of my 5 year portfolio

It is showing strength though and I have promised myself not to sell this till it hits Rs 6000 or for the next 5 years whichever is later.

This is a very strong stock - it barely went below the 200 DMA during the covid-19 sell-off.
 
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