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Published on 9/08/2019 4:32:43 PM | Source: Choice Broking Pvt Ltd

Buy Divi`s Laboratories Ltd For Target Rs. 1754 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Pharma Sector #Divis Laboratories Ltd #Trading Report #Choice Broking

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* On an weekly chart, On a daily chart, the stock is about giving a breakout of its “Consolidation Phase” as well as it is trading above its 21-Days Exponential Moving Average indicates that the stock could see a northward movement in the stock.

* On a daily chart, the stock has been trading in “Upward Rising Wedge" formation from last couple of days where it has sustained above 200 days SMA, which confirms long term trend remains bullish.

*  Moreover, stock has been trading above its 21 and 50 Days Simple Moving Averages with positive crossover which shows a positive trend for the time being.

* A daily momentum indicator RSI reading is at 58.37 level with positive crossover apart from this, RSI has been finding support of its rising trend line which point out positive breath in the counter.

*  Based on the above technical parameters, we are expecting an upside move in the stock in few trading sessions.

 

 

Recommendation

Buy Divi`s Laboratories Ltd Aug Fut @ 1663.40 - 1658 Stop Loss 1618 Target 1754

 

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