Avenue Supermart’s stock shows a strong rebound from the support level near 3,400, with immediate resistance at 4,119 (38% Fibonacci retracement) and 4,340 (50%).
The price is above the 20-day EMA, signaling short-term bullish momentum, but below the 50-day and 100-day EMAs, indicating a broader bearish trend. RSI near 70 suggests overbought conditions. Higher volumes support the recovery.
Conditions are not favorable to buy at the current price; holding is recommended until a decisive breakout or better entry point emerges.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
