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Munchkunster

#DIVISLAB.. 52 week high.. Is it time to sell now?

Short
DIVI'S LABORATORIE (NSE:DIVISLAB)  
Munchkunster Updated   
NSE:DIVISLAB   DIVI'S LABORATORIE
Trend Analysis Chart Patterns
1
0
trendanalysis chartpattern
Check the chart for details..

Price likely to go down in short term

Indicators are suggesting selling and also stock is overpriced right now..

I will sell my long position If it closes below 4395 at daily levels with above average selling volumes
Comment:
Seems like I was wrong about the immediate move on this stock..opened with a bang today...

Hence I always wait for close below certain levels before deciding to sell .. yes i may not sell at the top..yes i sometimes lose 3-5% of profits just because I decided to wait to determine the close...but there is also less risk of early selling and losing out on that further 10% upmove..

There is always something to learn..

However RSI is in oversold region so expect consolidation at least in the short term and keep an eye as this may be just a fake BO..
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