balaji_damo
Long

Divis lab - Fibonacci retracement

NSE:DIVISLAB   DIVI'S LABORATORIE
The stock has reversed trend and has become bullish . It has retraced to 23% and 38% confirming the strong bullish reversal trend. Huge volume is also confirming the same.

One can expect a mild correction between 23% and 38%, giving an opportunity of channel trade here as 870 was a past support becoming a resistance line now.

On breaking 870 on closing basis one can long for

Target 1 50% 955

Target 2 62% 1055

Comment: Target 1 reached. One can trail it to target 2. There could be a reversal here.
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