DIVISLAB trade ideas
DIVISLAB.. getting tiredDIVISLAB after a big breakout after results and then a pop up for inclusion in nifty looks tired,
RSI on daily in weakening and second high was made with a lower rsi peak,
also it is well outside of keltner channel
expecting a correction to 3200 and below that to 3140 in sept series
SL is 3335
this is for reference only, do your due diligence before trading.
[Buddha] DIVISLAB Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
This is not a BUY call but a GREAT learningLook at 10th August candle of DIVISLAB with a high wick on top with a high volume bar.
What it signifies..?? Any guess?
It shows buyers were in force and took a very high jump from 2784 to 3063 and they also were successful to take the price upto 3293. But then suddenly Sellers came in force and prices dropped to 3117. This simply signifies that big players with smart money were bearish on the stock and they booked their profit on high bought quantities, which resulted in price drop.
BEWARE friends the breakout was with a very weak candle on high volumes, which will result in gap to be filled in a very short span of time AND the stock will retest it support at 2500-2600 range.
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-MOHIT RAJANI
Downtrend started in DIVISLABAs marked in the chart probable downtrend setup is forming in the DIVISLAB
After breaking the important structure, price retested the levels again.
Hourly chart also shows the clear down trend starting.
Further increase in the delivery volume and volume in general also suggests the big move coming.
Next 2 sessions will confirm it further.
BREAKOUT TRADEAfter nifty being weak, pharma sector is back in momentum again. With this momentum stock has given a breakout with good volumes and RSI in bullish momentum. Stock is trading at all time highs and the momentum seems to continue for few more sessions ahead.
NOTE: Key level for stock is 2540. It should sustain above this level.
SIMILAR BREAKOUT: DR. REDDY'S LAB
Disclaimer: Take this views for educational purpose. Trade on your own risk.
Happy trading. Happy Investing!