By SMC Global
Divi's Laboratories closed at Rs 1090.20 on March 28, 2018. It made a 52-week low at Rs 532.65 on May 29, 2017 and a 52-week high of Rs. 1142 on December 27, 2017. The 200-days Exponential Moving Average (EMA) of the stock on the daily chart is currently at Rs 959.24
Divi's Laboratories Limited: BUY | Target: Rs 1240 | Stop loss: Rs 1000 | Return 13%
As we can see on charts that the stock is forming a “Cup and Handle” pattern on the weekly charts, which is bullish in nature. Although, the stock has not given the pattern breakout its consolidation shows that decent upside can be expected from current level.
Moreover, it has taken around fifteen months to form the pattern, so the potential of rise is quite strong. Therefore, one can buy in the range of Rs 1070-1080 levels for the upside target of Rs 1210-1240 levels and a stop loss below Rs 1000.
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