RK Damani stock portfolio: How to trade in DMart, Aptech, VST Industries

Here's a technical outlook on some of the key stocks owned by ace investor Radhakishan Damani.

Ace investor Radhakishan Damani, also popularly known as RK Damani, is a legendary investor in the Indian stock market. Damani is also known as the 'retail king' in India for his venture - Avenue Supermarts (DMart).

According to Bloomberg Billionaires Index, as of August 2024, Damani's net worth stood around $23.7 billion. Bloomberg had ranked RK Damani as the 98th richest person in the world for the year 2021.

As per the shareholding pattern ended June 2024 quarter, apart from his own firm - DMart wherein Damani holds 67.2 per cent stake. Some of the other companies with high holdings include stocks like - VST Industries, Advani Hotels, Bhagiradha Chemicals & Industries, Mangalam Organics, Sundaram Finance and Sundaram Finance Holdings.

 

Do you own any of these Damani-owned shares? Here's a technical outlook on some of RK Damani's portfolio stocks, with key support and resistance levels for the road ahead.

Avenue Supermarts (DMart)

Current Price: Rs 4,926

Upside Potential: 7.9%

Support: Rs 4,840; Rs 4,800; Rs 4,780

Resistance: Rs 5,100; Rs 5,150; Rs 5,200

DMart stock has broadly moved in the range of Rs 4,800 - Rs 5,200 since the last three months. At present levels, the stock is seen trading closer to the lower-end of the existing trading range. 

The Bollinger Bands on the daily scale have narrowed down to Rs 4,840 - Rs 5,100 levels. Further, the 20-DMA (Daily Moving Average) and the 50-DMA are seen converging around Rs 4,950-odd levels. Hence, Rs 4,950 may act as a near-term pivot for the stock. Further, a decisive breakout from the existing band could trigger the next move. CLICK HERE FOR THE CHART

On the downside, the stock has near support at Rs 4,780, below which a decline to Rs 4,425 levels seems possible. On the upside, break above Rs 5,100 - Rs 5,150 resistance band and trigger an up move towards Rs 5,315.

VST Industries

Current Price: Rs 4,680

Upside Potential: 15.4%

Support: Rs 4,597; Rs 4,500; Rs 4,445

Resistance: Rs 5,010; Rs 5,078

VST Industries had recently rallied 20.7 per cent from a low of Rs 4,075 on August 14 to a high of Rs 4,920 on August 27. Post that, the stock has witnessed some profit-taking and in the process touched a low of Rs 4,650 today. CLICK HERE FOR THE CHART

The stock is likely to seek support around 38.2 per cent Fibonacci retracement of the previous rally, which stands at Rs 4,597, below which support can be expected around the 50 per cent retracement level at Rs 4,500.

As per the long-term chart the bias for the stock is likely to remain positive as long as it trades above Rs 4,445 levels. On the upside, the stock can potentially rally to Rs 5,400, with interim resistance seen at Rs 5,010 and Rs 5,078 levels.

Bhagiradha Chemicals & Industries

Current Price: Rs 410

Upside Potential: 12.2%

Support: Rs 373; Rs 356

Resistance: Rs 421; Rs 429

Bhagiradha Chemicals is seen trading in overbought conditions on the long-term chart. Having said that, the overall bias for the stock is likely to remain favourable as long as the stock holds above Rs 333 on a monthly closing basis.

Near support for the stock can be expected at Rs 373 - wherein stands the 20-DMA, below which support is seen at Rs 356. On the upside, the stock needs to break and trade consistently above Rs 421 - Rs 429 resistance zone for further gains. The stock can potentially test Rs 460. CLICK HERE FOR THE CHART

Aptech

Current Price: Rs 243

Upside Potential: 8.6%

Support: Rs 237; Rs 225

Resistance: Rs 251; Rs 257

Aptech after a gap of 11 months is seen quoting above its 200-DMA for the third straight day today. The 200-DMA of Aptech stock stands at Rs 237 and is likely to act as bullish pivot for now; below which support is seen at Rs 225, wherein the 20- and 100-DMA converge.

On the upside, the stock seems to be facing resistance around its super trend line on the weekly scale at Rs 251. Above which hurdle for Aptech stock is seen at its 100-WMA (Weekly Moving Average) at Rs 257 and the 20-MMA (Monthly Moving Average) at Rs 264. The stock will need to clear these hurdles for a fresh trend to emerge. CLICK HERE FOR THE CHART

United Breweries

Current Price: Rs 2,032

Upside Potential: 5.8%

Support: Rs 1,995; Rs 1,978

Resistance: Rs 2,039

United Breweries stock is seen testing resistance at its super trend line on the daily scale for the last five trading sessions, which stands at Rs 2,039. In case of a breakout, the stock can potentially rally to Rs 2,150 levels in the coming sessions. Support for the stock is seen at Rs 1,995 and Rs 1,978 levels. CLICK HERE FOR THE CHART