Chart Patterns insist me to go with the opinion titled above!!!
1. Divislab has been travelling in a MAJOR Expanding Triangular pattern .
2. It's been travelling in a Descending Channel pattern(downswing inside the major pattern).
3. Soon the Stock may take support @ the major support.(Green line shown in chart).
4. There is also a GAP (occured...
A Divislab is look bearish from now
Stock is in consolidation from 09.Nov.2022
Its show a fake breakout from 3419 to3643
And then make a GRAVESTONE DOJI AT TOP
And again show a consolidation
from 12.jan its breakdown the M PATTERN
Now its show retrechment at 3400
stock is bearish till 1trg 3200
Chart is self explanatory. Levels of breakdown, possible down-moves (where stock may find support) and resistances (close above which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor...
Divi's Laboratories Limited is an Indian multinational Pharmaceuticals company and producer of active pharmaceutical ingredients and intermediates headquartered in Hyderabad, Telangana, India. The company manufactures and custom synthesizes generic APIs, intermediates
Divis Lab - Reversal Trade - Target 3750 & 4450
Showing signs of reversal. 12 days of consolidation then break out
Weekly Doji at support bottom (Sept 2020 levels) followed by Marubuzu this week confirming reversal.
RSI showing strength on daily chart with upward momentum as well as MACD weekly cross over.
Good RR. With 5% as SL one can target 33%.
As you can see Divis Lab is on the way to downside, in minor Wave E forming a Triangle pattern.
As per EWT minutte wave (c) can travel till fibo ratio 1 or 1.2 which are also my target.
But a trader must be cautious if it breaks the invalid level of 3710, if this level breaks above all study/ Analysis will be invalid.
Hello guys today after seeing the chart I got these things
1. If goes down then the target could be taken at 3449 This could be taken as a maximum downside target in my opinion at the early stages now
2. Time Frame:- 1 Day
A trendline has been broken at the current levels and thus it could work as resistance, I have seen some forecasts...
Divis Labs looks to Breakout tomorrow in an hourly Time Frame.
Will be upto 3850 to Achieve as Target 1.
If Stays rally Further Moves for 4000 only if withstand above 3920.
Stay tuned and Trade on your own Risk.
BSE:DIVISLAB gave a decent breakout above the level of 3635 which was resisted twice and came back to a bottom level, thus the bottom wasn't breakdown showing a good sign of bulls in the stock and the breakout was also a proper green candle closing above the resistance level, thus my view is to go long and the target is 3859 with a strict stop loss of 3450..