DIVISLAB trade ideas
DIVISLAB - Few points away from breaking long term supportDIVISLAB is trading near to its long term support zone of 3900. It has formed a closed range in last 3 days and coming very close to breakdown.
If 3915 is broken then it can fall to 3900 & 3850.
If stock closes below 3900 then more fall can follow.
Best case to trade this is if it opens around 3920 and move down. Safe traders should wait for it to cross 3900 and when it sustains below this level for 15 mins, go fo short.
Trade should not be initiated if there is big gap down like stock opening at 3990 directly and start moving down.
Trade with risk management.
Thanks
Piyush Gupta
Learn & Earn
Weekly Chart - Trendline Support I am not sure about taking a long position, given the weak market outlook.
Just sharing a few stocks I am keeping a track of which have reached their trendline support and might be a good time to accumulate in piecemeal.
DIVISLAB seems to be at its weekly trend support and it will be a key level to watch out for.
Not an Investment Advice. I am just curious to see how it plays out.
Low Risk Entry for Positional Longs - DivislabDivis Lab has been regularly taking support at 50 weekly ema and has always given a good move post taking support, entry at current levels with a stoploss of weekly close below 4350 gives a good risk reward for a move to ATH and beyond.
NOTE: VIEWS ARE FOR LEARNING ONLY