Bullish View Analysis for Divi’s Laboratories
Bullish View Analysis for Divi’s Laboratories:
1. Trigger Level:
A breakout above ₹5,950 will act as the signal for a bullish entry.
This level aligns with the 20 EMA, suggesting that buyers are regaining momentum.
2. Reasoning:
The price is currently in a consolidation phase within a range.
A breakout above ₹5,950 would indicate buyers are overcoming resistance, potentially driving the price towards higher levels.
3. Stop Loss:
Place your stop loss below ₹5,880 to manage risk.
This ensures that if the breakout fails, your losses are minimal.
4. Targets:
Target 1: ₹6,050 (the first resistance zone).
Target 2: ₹6,200 (the upper end of the range).
5. Supporting Indicators:
RSI (Relative Strength Index): Currently near 54, suggesting momentum is picking up but not yet overbought. A move above 60 would confirm bullish strength.
Volume: Look for an increase in volume during the breakout to validate the buying pressure.
6. Key Levels to Watch:
₹5,950: Breakout level.
₹5,880: Support zone for stop loss.
₹6,050 and ₹6,200: Profit booking zones.
Pro Tip:
Wait for a 4H or daily candle close above ₹5,950 before entering to avoid false breakouts.
Confirm with increasing volume and RSI moving higher for added confidence in the bullish move.
1. Trigger Level:
A breakout above ₹5,950 will act as the signal for a bullish entry.
This level aligns with the 20 EMA, suggesting that buyers are regaining momentum.
2. Reasoning:
The price is currently in a consolidation phase within a range.
A breakout above ₹5,950 would indicate buyers are overcoming resistance, potentially driving the price towards higher levels.
3. Stop Loss:
Place your stop loss below ₹5,880 to manage risk.
This ensures that if the breakout fails, your losses are minimal.
4. Targets:
Target 1: ₹6,050 (the first resistance zone).
Target 2: ₹6,200 (the upper end of the range).
5. Supporting Indicators:
RSI (Relative Strength Index): Currently near 54, suggesting momentum is picking up but not yet overbought. A move above 60 would confirm bullish strength.
Volume: Look for an increase in volume during the breakout to validate the buying pressure.
6. Key Levels to Watch:
₹5,950: Breakout level.
₹5,880: Support zone for stop loss.
₹6,050 and ₹6,200: Profit booking zones.
Pro Tip:
Wait for a 4H or daily candle close above ₹5,950 before entering to avoid false breakouts.
Confirm with increasing volume and RSI moving higher for added confidence in the bullish move.
Disclaimer
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