DIVIS LAB made a strong close yesterday and has reached its all time high.
The trend is bullish and the stock has no further upward resistance which could mean a good long entry for both swing as well as positional ,riding the trend and trailing your stop loss.
Trade will be valid only on bullish 75CB and further price action confirmations.
Here's the daily chart :
Indicators :
However, one to keep in mind would be Nifty50's movement. If the index goes up with strong momentum,a long trade in pharma sector has a probability of failing.BSE:DIVISLAB
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Stock opened strong and made a high of 2437, but as mentioned ,trading would've been initiated once price gave a bullish candle on 75CB. Now watch for old resistance around 2420 zone as stock might reverse from there towards its upper resistance.
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Will not be initating trade in this anytime soon. Unless it looks good above 2540 I will stay away from it