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.
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...
trendline is broken and retested price is moving up....
now price exactly at its previous supply zone....
we have to look if its break or not....
we have a strong support in the range as demand zone...
In daily time frame still not at reached the supply zone...but in weekly it reached...
we have a trendline support as well in daily time frame...please be on the...
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....
A debt free large cap company with strong fundamentals.
Technically bearish as price broke the neckline of Head & Shoulder pattern.
Bullish divergence with RSI indicating reversal can happen but RSI hasn't entered the bearish oversold range of sub 25 levels.
As per Head & Shoulder pattern, the technical target is around 1850 level which lies at golden Fib zone...
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,...
