DIVISLAB has made an ascending triangle
Entry : 1730-1722 Range
Stoploss : 1690
Basic Target: open
Optional ways : Derivatives are best case as expiry is just 12 days away.
Idea By MALKIAT SINGH
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Divis Lab has made a text book head and shoulders pattern after a long trend .
Today has made an inside bar on the neckline support level .
Possible bounce back or break down from this level .
Can go long above the high of today and short below low of today .
It is been observed that the selling pressure is high due to which buyers are having hard time to pick up the prices. Previously the bearishness was confirmed by the formation of PINBAR Candlesticks pattern that indicates weakness and rejection of higher prices. Therefore it is a good time to short at current levels for target 1240 Stoploss 1351