Divis Laboratories' stock has been technically damaged by sudden burst of bubble. Only hunky-dory sector in Indian stock market which can stand on its foot is pharma after much publicized IT sector. Pharmaceutical companies stocks are like runaway trains, exhibiting near vertical rise on the charts. There is no way that this can continue forever. We did...
Divislab is showing weakness and can be sold at cmp 1298, stop 1320.
The pinbar candlesticks indicates rejection of prices on high levels and also indicates selling pressure at resistance levels. In the above chart, 1380 -1350 acting as resistance zone where we can see rejection of prices due to high selling pressure. The prices may go down to the previous 52 Week high levels to regain buyers in the momentum and also confirmed it...
Above 1210 if stay 10min with high open interest blast upto 1240/1260/ lets see what happens
divis lab on a triangle pattern abv 1170 low volume stock
It is trading in a range bound within a triangle, overall long term trend looks bearish and now it is an good opportunity to short and be with the trend.
Looking for a breakout downward as a correction of on-going massive impulse leg. Get your zoom lens cleared, shot opportunity can come in the way.