Divis Lab - Long Opportunity.Long Position -
Divis Lab is now showing as an uptrend. If this trend continues on Wednesday then it might give the level of Rs. 4455.25 in the next 1-2 days. But we have to be cautious at this level, as Nifty Pharma is not in a recovery zone. But there is a Minor SR at the level of Rs. 4236.45, In case markets open gap up then we can initiate a trade in the above-drawn zone, but the condition is the first candle should be closed as bullish. If these all rules fit we can go for long and can easily achieve 30 points in intraday.
Beware that if the market opens in bearish sentiments there will be correction expected.
Divislabs
Divis Lab - Fundamental + Technical Positive (Multiple Triggers)Divis Labs corrected corrected fairly after almost a continuous rally of about 40% in say 6 months. After making a peak at 5389, it corrected nearly 30%. Now, it seems to have consolidated well and is in good shape to resume its bull run going further.
Points working in favor:
1. Fundamentals are improving pretty good
2. Double Bottom with positive RSI Divergence
3. Price action is strong on weekly chart as well
Key Resistance points/Target points:
1. 4689
2. 4769
3. 4890
4. 5016 (Fresh strong rally possible after this stage on closing basis)
Key Support level/stop loss: 4300
Divislab LongI hope you can now see how Divislab represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these charts are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
Simple Trade Setup | DIVISLAB| 20-08-2021NSE:DIVISLAB
Observations:
1) On Daily Time Frame, it just closed above 21DMA which is also a good support at 4900.
Please refer Chart below: Daily time frame.
2) On 15 min time frame, it is now in critical Zone.
Please refer Chart below: 15min time frame.
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Trade Setup for Date 20-08-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and target w.r.t price action working near that level tomorrow.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
DIVISLAB making head and shoulderDIVIS LAB is making a very good head and shoulder pattern which is right at the support. The resistance was broken earlier now turned into support.
So some bullishness will result in a good trade. So watch out for this one.
COMMENT down below your views on the analysis.