DIVISLAB : Buy @ 645 Target 670, 695 and 710

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Dear Readers,

The stock of Divis Laboratories has witnessed a sharp fall in today's market. Looking at the current movement in the stock of DIVISLAB on 15 minutes time scale the stock looks good for the buying opportunity.

Besides, giving due consideration to the internal wave count of the fall in the stock of DIVISLAB , this corrective movement seems to have got finished with the making of low of 632.55. Secondly, on the time-scale of 1 minute one may notice that from the low of 632.55 to the high of 669.95, was a sharp rise and shall be considered as an impulsive wave.

On the same time-scale of 1 minute the movement after 669.95, looks like a diagonal triangle ( a-b-c-d-e ) movement. A sharp rise is expected in the stock on the finishing of the last leg, i.e., 'e', of the diagonal triangle.

Moreover, if the stock breaches the low of 632.55, a probable low and strong support for the short term and near future, the stock may witness an extended corrective movement.

So, the stock can be taken for long position @ 645 or below that price for the ultimate target of 710 with the stop loss of today's low of 632.55.

For further reference of readers, one minute time bar chart has been shared below.

Trade closed: stop reached: current price : 631
Hi, DIVISLAB has 0.618 retracement somewhere near 600 level on monthly chart. Can we expect some reversal from there ? Pls suggest if any wave counts support it.
sgor1980 nirav5
@nirav5, hi, can you please tell me how did you calculate the 61.8% retracement level?
nirav5 sgor1980
@sgor1980, From all time low to all time high.
sgor1980 nirav5
@nirav5, from all time, which was back in the year 2002 to current high, it cannot be a 61.8% retracement level. so be specific by sharing your chart(s) or your calculative part. besides, do let me know how you counted the waves, as sometimes when there is mistake on wave count you always going to make mistake on reversal point.
nirav5 sgor1980
@sgor1980, I am not an EW expert hence I need suggestion from you.
sgor1980 nirav5
@nirav5, i have shared chart of DIVISLAB from its all time low to all time high, just go through the same. you can find that chat on, streaming chart on which is powered by, but those back dated data are not available here on Tradingview.

Now coming to your query just take the bottom of 45 as base for your retracement calculation, made in the month of April 2005. and I would suggest you to create a habit of viewing chart on log scale then a normal scale so that you will be able to view waves better way.
nirav5 sgor1980
@sgor1980, Sure thanks.
sgor1980 sgor1980
@sgor1980, as i went through the chart of DIVISLAB, it seems me that the stock may find its bottom around 500-550. The monthly MACD needs adjustment to get turn up, secondly, over next few weeks or months we may see a sideways movement in the stock, as weekly MACD suggest some possible positive reversal in the stock, but the movement may be choppy and confusing, giving sideways correction to the recent fall and then move southward again to make new low after few weeks or months.
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