Amit Gupta of ICICIdirect told CNBC-TV18, "We have actually been consistently buying Divis Laboratories. I will initiate long positions again. If you look at the last 6-7 months movement in the stock, it has definitely outperformed in terms of the market, because markets have fallen, but it has remained around Rs 1,880 levels broadly. Now we have started seeing that it has started moving higher. It has already formed the new high. Just because of the market, it declined, it has come back to Rs 1,900 and if you see the open interest, around 40 percent of short closure was seen since the last series onwards.""So, there is a great chance actually for this stock to move up. If currency starts moving towards 64 or little higher, that will benefit the stock. So, the downside seems to be very limited looking at this sort of consolidation which has already happened. And from here, if you are buying, keep a stop loss around Rs 1,830 which is a good stop loss considering that it has already spent 2-3 series above that level now and the higher levels of Rs 2,080 can also be reached," he said.
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