Divishlab 4h Seem like it is forming symmetric triangle.
Check volume before you take the trade
Long if price goes > 1742.50
Short if price goes < 1642 - Target 1550
DIVISLAB trade ideas
Divis Lab. Short from 1650.Current wave count says we broke out of the triangle and right now we ended wave 3 of the final leg. I am waiting for a retracement till 1580 for wave 4 and then wave 5 till 1650 levels and go short from there. 1650 wont necessarily be the exact level but the point is to short from there after market gives reversal candle on daily time frame.
Divis Lab. Short 1650. Wait For Reversal Candle on Daily ChartDivis Lab. Short 1650. Wait For Reversal Candle on Daily Chart
Divis Lab. Short From 1650 level.Currently in the last leg of wave B, waiting for 1580 from current levels and from there 1650. Will go short after it gives reversal candle on daily chart.
DIVISLAB - BULLISH PATTERN
#DIVISLAB
CMP 1532
Long suggested ONLY above 1550;
Stop 1500 swing position / 1530 intraday position;
Open target ;
Logic :
Trend template + consolidation pattern(Vcp).
DIVISLAB SELL IF BREAKS 1468 for small target 1462/1459DIVISLAB SELL IF BREAKS 1468 for small target 1462/1459
Divi Long Setup - Simple Support line & Fib Support!After a period of good upward momentum, Divi has been consolidating in a range & established support confirmations. A long entry above today Dec 31st high could lead to good upsides..
DivisLab, 200 DMAAmong the Pharma majors, DivisLab has been the foremost one to show the change in trend since price crossed 200 DMA and 50 Crossed 200 DMA (Golden Cross). After a jerky rise, price has started correcting due to Negative Divergence. Now the stock is taking support at 200 DMA (1035). But technical support lies at 1011 maximum where bulls are selling PUTs. So this range of 1035 to 1015 is to be watched closely If price comes down towards 1011, a Positive Divergence will be developed which may charge the bullish sentiment again.
DivisLab, E-Waves, ConsolidationAscendance of US President Trump to throne numbed the Indian Pharma industry (and also IT sector). For last 4-5 years US FDA's (US is one of the most lucrative markets for Indian Pharma) onsite scrutiny and warnings are making it difficult for this manufacturing sector to work. Stocks of big companies nosedived (for example: Wockhardt, Lupin, Auropharma, SunPharma etc.). However in recent months things have been changing for the better and some Pharma majors are showing signs of recovery. Divis is one such stock. Price created a bottom and took support therefrom. Five waves up are done and now consolidation is going on and well-defined resistance level is being hit clearing of which will give a breakout taking the price to new height.
clear bullish breakout on the monthly chartif the price retraces to 852 go long for the target of 1178
DIVISLAB buyDIVISLAB has been in a long downtrend followed by a lengthy consolidation.
It has just broken above the range and looks good for follow through.
The logical first target is 710 and eventually, if the rally sustains, it should fill the gap at 760
INTRADAY DIVISLAB SHORTDIVISLAB IS SHORT BELOW 623 WITH A STOP LOSS AT AROUND THE HIGH OF THE CANDLE WHICH BREAKS THE IMPORTANT SUPPORT LEVEL.
TARGET CAN BE AROUND 620-618.
ALL THREE CONDITIONS WHICH I SEE ARE IN PLAY.
VOLUME IS HIGH
RSI BELOW 30
PRICE IS NEAR SUPPORT LEVELS AND IN DOWN TREND.
Divis Laboratories ( DIVISLAB ) - Damaged And DeflatedDivis 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 mention our simple pharma playbook in previous trade idea for Auropharma. In that post we have clearly mentioned that never chase the rally in pharma and just wait for some catalyst to shoot it down e.g. Ubiquitous FDA warnings.
An abate rise from 500 to almost 1400, tripling the stock in just 3 years - 2014 - 2016 end, has been undone by just couple of weeks! Nothing new in this story and such events happen many times in stock market. Lesson is simple that those who lost discipline and chased the stock are going to burn and those who have waited are going to be rewarded. Patience is hard to develop virtue ;)
DIVISLAB will become interesting below 700. Any spike lows below that near the 500 region +/- 100, will bring in ample buyers. And yes, you guessed that right that we will be buying from those levels too :)
Our other big pharma plays of the year are, ( Please check the links )
GLAXO,
DRREDDY,
CIPLA,
LUPIN,
SUNPHARMA
