ParimalDevnath
Long

DivisLab, E-Waves, Consolidation

NSE:DIVISLAB   DIVI'S LABORATORIE
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Ascendance of US President Trump to throne numbed the Indian Pharma industry (and also IT sector). For last 4-5 years US FDA's (US is one of the most lucrative markets for Indian Pharma ) onsite scrutiny and warnings are making it difficult for this manufacturing sector to work. Stocks of big companies nosedived (for example: Wockhardt, Lupin , Auropharma , SunPharma etc.). However in recent months things have been changing for the better and some Pharma majors are showing signs of recovery. Divis is one such stock. Price created a bottom and took support therefrom. Five waves up are done and now consolidation is going on and well-defined resistance level is being hit clearing of which will give a breakout taking the price to new height.
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