DIVISLAB
Trade divis lab only if it opens flat or gap down!Stock has moved consistently in a downward channel and it has started the upmove from swing low. Though stock is in down trend, the upmoves in this stock are always fast.
Expecting a target of 4782 tomorrow itself, which is the channel resistance.
Entry: strictly below 4575 (otherwise the RR is not favourable)
SL : below the broken trendline at 4380
Trail the SL if trendline is broken and hold positionally. Else book profits in intraday.
*educational purposes only*
DIVISLAB - Price Action Analysis Currently, BSE:DIVISLAB having witness of tremendous selling pressure for last couple of week and creates bullish harmonic Shark pattern with the PRZ (Prize Reversal Zone) level 0.886 at price 4317.
BUY : buying only happens when price will touch at the Demand zone (4196-4336) and making confirmation candle.
SELL : Our target would be up to supply zone (4728-4831) and any reversal sign at that zone also creating short opportunity as well.
Those who takes buy opportunity also creating SL in between the range of 3932-3800. you can easily get 1:1 or 1:2 risk and reward.
Short Term Cash Buy DIVISLAB @3820-3840 SL 3756 TGT 3965TK 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.