Buzzing stock-DIVISLAB below 786 remain very bearish

Divi's Laboratories Limited stock technical analysis

Divi’s Laboratories Limited stock technical analysis

DIVISLAB today continues its downtrend and hit fresh 52 weeks low around 743. Closed at 760 rupee level with almost 12 % drop. DIVISLAB 52 weeks high was at 1381. From top is has fallen by almost 650 rupees.   DIVISLAB stock in absolute downtrend and opened weak in December series and achieved downside targets of 1085 then 995 then 877 and at last 786 which was last support zone as well as target level. Below 786, stock will remain absolute sell for targets of 740 to 690 rupee.   From long term view, stock is looking very weak and might heading for 350 rupee historic support zone. On upside 1400 rupee is major resistance.

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Pramod Baviskar

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