Divi’s Laboratories has moved above its week-long consolidation pattern on the daily chart. The recent breakout signifies growing optimism in the stock which is expected to take the price upward in the near-term.
In addition, the price has moved above 50-DMA which again exhibits a bullish setup. Traders can accumulate the stock in the range of Rs 1,110-1,125 for the target of Rs 1,234 with a stop loss below Rs 1,064.
Disclaimer: The author is Head of Wealth Management and Financial Planning, Bonanza Portfolio Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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