- In terms of technical indicators, the momentum on DMART share price is upside-bound, with the daily RSI at 60 as of this writing.
DMART share price extended its winning streak on Thursday, hitting four-week highs of ₹4,346. The market sentiment around the retail giant behind Avenue Supermarkets is positive, after its analysts call propelled it up by more than 7%. Consequently, the stock is on track to snap a four-week losing streak. Furthermore, analysts have raised their targets on the stock price.
In a conference call with analysts held on Wednesday, Avenue Supermarkets revealed that it intends to expand its store footprint significantly in the medium and long-term. Notably, the announcement comes after the company reported a 16% year-on-year jump in revenue to ₹15,932 crore for the quarter ending June. The company added 28 new store in the quarter ending March 2025, its fastest quarterly growth in four years. Going forward, it plans to add about 50 new stores by the end of FY2026.
Avenue Supermarkets (NSE: DMART) management is confident over its margins, stating during the conference call that competition from other retailers was unlikely to weaken its standing. However, some investors are concerned that aggressive expansion could increase debt and potentially result in negative cash flow.
In terms of technical indicators, the momentum on DMART share price is upside-bound, with the daily RSI at 60 as of this writing. In addition, the Average Directional Index (ADX) is at 33 on the shorter 4-hour time frame, affirming the strength of the upside propulsion.
DMART Share Price Prediction
DMART share price pivots at ₹4,236 and the momentum favours the upside to continue if action stays above that level. That will likely see the first resistance encountered at ₹4,292. Breaking above that level will indicate a stronger momentum that could extend gains to test ₹4,350.
On the other hand, breaking below ₹4,236 will shift the momentum to the downside. That will likely see the first support established at ₹4,183. Breaking below that level will invalidate the upside narrative and the resulting momentum could send the action lower to test ₹4,120 in extension.
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