Head and shoulders pattern is identified in this stock.
price is now near to Neckline.
on bottom we have a strong support lies at 3400 levels,
if price breaks neckline we have a support lies at 3400.
keep in long side from support levels,
if neckline failed to push the price downside we have a continuation from this support levels.
Divis Lab Elliott Wave Count
this is an update to our previous post!
Based on the current market situation, it appears that Divis Laboratories is still experiencing the 3rd wave. As a result, we can anticipate a new low within the 3200 range, followed by a rebound. This view is consistent with our previous post, with only minor adjustments to the inside counts...
DIVISLAB - Elliott Wave Count
It appears that Divislab is in wave C and to reach to or below 3400 in the coming days. Then we can see a good impulse wave towards 4000 and beyond. Please note that we have placed our stop loss at the level of 3250. This means that if the price drops below this point, we will exit the long position.
Please note that this...
Showing strong bullish pressure...
this may be the end of bullishness or initiation of large quantity on buy side...
keep on buy side until the resistance zone...
if breaks will get more points.
9bservations::
The stock is trending upwards.
currently this stock is trending bearish ,In lower timeframes.
price facing resistance again from previous Resistance@ 3400 and showing bearish pressure caused the price pushing downwards.
in the middle price leaves a supply zone 3280 level causing the price to push back, keep on buyside after breaking this levels....
The Price trading near strong and crucial support level of 2730. Price formed Double Bottom chart pattern near the support level. If price holds this level that we can look for short term upside.
If price breaks down the support level of 2350 than more fall can be see in next coming trading sessions.
As per my analysis, NSE:DIVISLAB is continue trading above support of 3355. My idea is to take entry at 3427 with stop loss of 3300 (-127 Points Risk). My expected up side target will be 3630 (+203 Points).
Note: This is my personal analysis, only for learning. Thanks.
The idea here is about Divis Laboratories:
Divis Laboratories Ltd is engaged in the manufacture of Active Pharma Ingredients (APIs) and intermediates. The company in a matter of short time expanded their breadth of operations to provide complete turnkey solutions to the domestic Indian pharmaceutical industry.They are actively involved in developing alternate,...
It's not uncommon for Divis to see 60% drawdowns. There have been multiple instances in the past and I don't believe this time it will be different. Cautious times!
DIVISLAB have taken support and forming pole and flag . Going to break channel and start up move. Targets are mentioned, must comment if have any suggestion. NSE:DIVISLAB
Divislab saw a good move from 5022 levels to 5223 in the past few sessions.
Now, if it holds and sustains above 5100 levels, then its probably moving towards 5250 initially, and also towards 5327 in the coming trading sessions.
DIVISLAB:
On 24thSep- we can see Reversal on low volume
On 27thSep - 3.5% down with strong volume
Breaking monthly CPR,
Next target 4829 - once breaks and sustains - will test 4678.
Please add to watch list and trade carefully.
TK cross over at 3772.
MACD cross over 3770.
Moving averages and oscillators 14/14 indicates BUY signals.
Break R1 3759 next resistance 3959/4446.
30 min chart and daily chart is positive and hourly chart also improving.
Pharma is hot pick again due to second COVID-19 waves. Most of the pharma are on the BUY side CIPLA, Dr Reddy, STAR, and others.
Good evening sir's
Recently told you that I had seen a breakout in Nifty Pharma. Divis lab is a good candidate for tomorrow and for the next week/
Consider Buying the Divis lab above 3570 with 3544. target should be 3600/3640
