MOHIT09

This is not a BUY call but a GREAT learning

Short
NSE:DIVISLAB   DIVI'S LABORATORIE
Look at 10th August candle of DIVISLAB with a high wick on top with a high volume bar.
What it signifies..?? Any guess?

It shows buyers were in force and took a very high jump from 2784 to 3063 and they also were successful to take the price upto 3293. But then suddenly Sellers came in force and prices dropped to 3117. This simply signifies that big players with smart money were bearish on the stock and they booked their profit on high bought quantities, which resulted in price drop.

BEWARE friends the breakout was with a very weak candle on high volumes, which will result in gap to be filled in a very short span of time AND the stock will retest it support at 2500-2600 range.

Follow for more market learnings and hit a like if you liked the concept.

-MOHIT RAJANI

Comments

I guess you are right.
+1 Reply
It is moving up
Reply
MOHIT09 Himanshu93
@Himanshu93, Stock is going through its distribution phase, have a look at 21Aug weak candles on top on high volumes...this is a clear sign of not bullish.
Reply
Himanshu93 MOHIT09
@MOHIT09, thanks for your inputs!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out